Analytics has been a hot topic for a few years now, and for good reason. More than half of analytics leaders reported a correlation between their organization’s analytics initiatives and seeing a “significant improvement” in their competitive standing.
It’s been more than four years since the term “insurtech” was coined. Back then, a surge in interest in deploying new technology, data and analytics to improve all parts of the insurance buying process held the potential for radical change.
An Obamacare argument is in front of the Supreme Court this week. Health insurance companies in Maine, Alaska, and elsewhere around the country say they are owed a lot of money by the federal government, roughly $12 billion, because of a deal struck under the Affordable Care Act.
Collision repairers’ lawsuit against New Jersey Manufacturers Insurance alleging steering-related violations may proceed, a Superior Court, N.J., judge ruled late last month.
With talent spread thin in greying claims departments, insurers are looking to use AI to help digitize their claims triage process and other workflows.
In the ever-changing world of cannabis and regulation, it’s worth taking a step back after a busy year of action in order to see where claims and litigation trends are headed in 2020 and beyond.
Another day, another Tesla crash caused by someone supposedly misusing Autopilot. Connecticut State Police took to Facebook to report that a Model 3 rear-ended one of its highway patrol cars while using the semi-autonomous driving system.
Insurance is the business of assessing risks and pricing policies to match. As no two people are entirely alike, that means treating different people differently. But how to segment people without discriminating unfairly?
California on Thursday ordered a one-year halt on insurance companies dropping customers in wildfire-prone areas at a time when state insurers are trying to limit spiraling costs from climate change.
A provider of services to rehabilitating injured workers, MedRisk Inc. has seen post-surgical physical therapy cases drop by 26% in the last five years, according to an industry trends report the company released Thursday.
United states jury payouts are sending global insurance industry legal costs skyward. Insurer execs face a rising fear from the size and frequency of awards jurors are requiring the firms to pay out to plaintiffs.
For years, organizations have employed remote sensing technologies that obtain information about objects or areas from a distance—typically from aircraft or satellites—to assess impacts from natural disasters like hurricanes. But today, thanks to a convergence of factors, including a dramatic drop in remote sensing costs, greater availability of more detailed and abundant data, and advances in artificial intelligence, the technology is increasingly being used to mitigate property risks.
California and the rest of the western U.S. face a billion-dollar-a-year risk in flood damages from so-called “atmospheric rivers”, the huge plumes of moisture that periodically surge ashore from the sub-tropics, according to a study published Wednesday by UC San Diego.
Faulty Takata airbags have already caused the largest auto recall in history, with tens of millions of cars affected. Now a newly discovered defect has prompted the recall of another 1.4 million vehicles.
