big data News

How Data-Dependent Federal Reserve Is Growing to Like Private Company Big Data

About a year ago, Federal Reserve officials were nervous. Markets were cratering. Fear about a trade war was rising. The officials needed to know if the turmoil was chilling consumer spending. Problem was, a partial shutdown of the government had …

Shift Technology Raises $60M to Expand Use of AI for Fraudulent Claims Detection

Shift Technology has raised $60 million in new venture financing, money that will help grow the reach of its artificial intelligence and big data technology designed to help carriers detect fraud during the claims process. Plans call for using the …

Softbank Plans Big Push into Insurance Investments

Softbank’s Vision Fund plans to pump more money into insurance, a sector it sees as both ripe for disruption and a potential booster for its bigger bets in cars, health and financial services, a Vision Fund executive told Reuters. In …

Global Insurers Realize Innovation Is Critical for Future Success: A.M. Best Survey

A significant majority of global insurers understand that innovation is increasingly becoming a competitive differentiator in the global marketplace, according to the results of an A.M. Best survey of its rated entities. More than 80 percent of survey respondents said …

How, Why and Where Insurance Agencies Should Use Data Analytics

As the data insurance agencies and brokerages continues to grow, agency managers are faced with having to answer how, why and where they can successfully analyze and use all of this data. The answer to the “why” is simple: To …

Did Big Data Enable Lloyd’s to Predict France’s World Cup Win? Well, Maybe…

Ahead of the recent World Cup in Russia, Lloyd’s of London predicted that France would be victorious. And victorious they were – with a 4-2 win against Croatia on Sunday. Interestingly, Lloyd’s also predicted Germany’s win against Argentina in 2014. …

UK Regulator Warns Insurers, Banks About Responsible Use of Customers’ Big Data

Britain’s banks and insurers must take the lead in spelling out how they will use data collected from customers or they could face new rules, Financial Conduct Authority Chair Charles Randell said on Wednesday. Financial firms have been using Big …

Chinese Tech Firms Seek to Shake Up State-Run Health Sector with AI and Big Data

In the eastern Chinese city of Hangzhou, an ambulance speeds through traffic on a wave of green lights, helped along by an artificial intelligence (AI) system and big data. The system, which involves sending information to a centralized computer linked …

Auto Supplier Bosch Teams with Startup Mojio to Connect Vehicles to Digital Services

German auto supplier Robert Bosch GmbH is teaming with Canadian startup Mojio to get more vehicles connected wirelessly to a wide range of digital services, from insurance companies to emergency responders, the companies said on Wednesday. Bosch said it was …

Toyota’s $1B Investment in Ride-Hailer Grab Opens Door to Data-Driven Insurance

By pumping $1 billion into ride-hailing firm Grab, Toyota Motor Corp. stands to gain a passenger-side view of tens of thousands of cars across Southeast Asia, tracking how fast they drive, how far they travel and the time they spend …