Mind Foundry Ltd., an artificial intelligence startup vying to help insurers decide which drivers should be covered, has raised $22 million in funding, the latest sign of growing demand to deploy AI in critical sectors where there’s little room for …
Claims for road accidents in the UK jumped by over a fifth (22%) in the week after the clocks went back in 2021, according to analysis of internal data by Tesco Bank Motor Insurance. The findings are based on a …
The cost of paying auto claims is running particularly high in Britain and the United States, insurer Admiral’s chief said on Wednesday, after the company posted a 48% fall in pretax profit due to a “more turbulent cycle.” Motor insurers …
UK insurer Hasting Group Holdings has agreed to a £1.66 billion (US$2.2 billion) cash acquisition by Finnish insurer Sampo and Rand Merchant Investment Holdings Ltd., a South African financial services investment company. Hastings investors will receive 250 pence for each …
UK motor insurers have voted for the Motor Insurers Bureau (MIB) to handle and pay the claims from victims involved in a terrorist event where a vehicle is used to kill or injure. MIB is the UK’s not-for-profit body which …
Allianz Insurance has partnered with Drivy (UK) to provide insurance for users of its car sharing platform. Drivy, a car sharing operator, links drivers, who need a car on a short-term basis, with vehicle owners who want to generate extra …
It has almost become a refrain: just what is Masayoshi Son up to? After plowing money into companies as diverse as Uber Technologies Inc., office rental specialist WeWork Cos Inc. and fintech lender SoFi, the billionaire chief of SoftBank Group …
InsurTech startup InsurePal (now known as VouchForMe) is developing an insurance platform that aims to revolutionize the industry’s model for risk selection and fraud prevention by “social proofing” insurance products. (Editor’s Note: When this feature was originally published in February …
Volante Global Ltd., a new multi-class and multi-territory international managing general agent (MGA) platform, has announced the launch of Edison Motor and the appointment of Steven Dickie and Doug Ockwell as joint managing directors of the new operation. Edison Motor …
Britain’s largest motor insurer Direct Line is offering Tesla Inc drivers in Britain a 5-percent discount for switching on the car’s autopilot system, seeking to encourage use of a system it hopes will cut down on accidents. The move – …
