artificial intelligence (AI) News

Artificial Intelligence Poses Risks to Insurers, Banks, Warns Global Regulator

Replacing bank and insurance workers with machines risks creating a dependency on outside technology companies beyond the reach of regulators, the global Financial Stability Board (FSB) said on Wednesday. The FSB, which coordinates financial regulation across the Group of 20 …

Progressive’s Flo Turned Into Chatbot

Convinced that Americans are dying to speak with its human TV spokes-icon Flo, Progressive Insurance is bringing a Flo Chatbot experience to Facebook Messenger. This tool, enhanced by artificial intelligence and quoting technology, is now available for all Messenger users …

10 Critical Job Skills of the Future

The world sits on the precipice of the fourth industrial revolution, as a coming wave of disruptive technology in fields like artificial intelligence, machine learning, the mobile internet and 3-D printing remake entire industries and open up untold possibilities in …

Lloyd’s Signs Deal with Artificial Intelligence Specialist, Expert System

Lloyd’s of London wants to infuse artificial intelligence (AI) technology into the daily business it does with its customers. The world’s largest insurance market signed a global deal with Expert System that will bring on cognitive automation, via the company’s …

XL Catlin’s Accelerate Partners with UK Artificial Intelligence Startup Cytora

XL Catlin’s internal innovation team, Accelerate, announced it is working with Cytora, a UK-based insurtech startup that uses artificial intelligence (AI) and open source data to improve the way insurers quantify, select and price risk. XL Catlin said it will …

Chinese Venture Capital Firm, Sinovation Ventures, Boosts Investment in AI

For years, Kai-Fu Lee would share his venture capital firm’s office space in Beijing with startups he was backing so they could get advice and collaborate with each other. But about three months ago, the last of the startups packed …

Bayer-Backed Health Startup, Medopad, Seeks $30M in New Funding: Sources

Medopad Ltd., backed by pharmaceuticals giant Bayer AG, is looking to raise new funds, joining the clutch of fast growing U.K. startups that are mixing artificial intelligence and health care. A London-based mobile platform for health-care companies, insurers, doctors and …

XL Catlin’s Accelerate Unit Appoints Artificial Intelligence Expert from Tesco

XL Catlin announced the appointment of Ashish Umre as Accelerate partner, Artificial Intelligence (AI), based in London. Accelerate is XL Catlin’s internal disruption and innovation team, which was established in November 2016 to leverage commercial opportunities arising from new technologies …

Robo Advisers Gaining as Insurance Sales Agents: Chart

While traditional intermediaries still dominate in distributing insurance, the advance in artificial intelligence means that so-called robo advisers have gained traction in recent years, according to Swiss Re. These web-based platforms — providing automated, algorithm-based advice without or with only …

InsurLab Germany Launched in Cologne to Promote Insurtech Innovation

InsurLab Germany, a digital hub for the insurance and reinsurance industry, has been launched in Cologne to promote digital innovation in the industry. There are eight founding insurance companies: AXA, Barmenia, Debeka, Gen Re, Gothaer, LVM, Provinzial Rheinland and R+V. …