Whether artificial intelligence will help the insurance industry work smarter, or whether it will mean massive job losses, or maybe represent something in between is yet to be seen.

Talk to anyone in claims management, and they'll tell you the same thing: This particular branch of the industry is here to help produce the best outcomes for policyholders.

Farmers Insurance has become the latest company to restrict new homeowner policies in California due to soaring inflation and a surge in severe weather events, which have escalated business expenses. The decision, effective as of July 3, applies to new policies only.

U.S. property/casualty insurers are responding to higher inflation and natural catastrophe losses with rate increases when possible and exits when not, Swiss Re Ltd. said Wednesday in a report.

The insurance industry is increasingly wary of the risks presented by climate and natural disasters, prompting major firms to scale back their presence in more vulnerable states.

With the insurance industry so focused on improving the customer experience, many have turned to behavioral economists for insights into how customers actually think, as opposed to how we think they think or how we want them to think. But... wow... behavioral economists sure aren't doing much for their credibility.

With the weather heating up, severe hailstorms abound. For insurance claims adjusters, this means preparing for an influx of claims. 6.2 million properties in the U.S. experienced one or more damaging hail events in 2020, with Texas, Nebraska and Minnesota the top three states, making these warm months a very busy time in the entire middle U.S.

To handle the high volume of claims effectively, adjusters need to be well-prepared and have the necessary tools and resources at their disposal. Here are a few tips to support the claims process during one of the busiest insurance seasons of the year.

Generative AI tools such as ChatGPT, which once seemed far off on the horizon, have arrived and are beginning to take shape. Industries, including construction and insurance, are contemplating whether, how, and to what extent they will incorporate this technology.

As property insurers flee California, a state riven by billion-dollar wildfires, mudslides, and the ever-present threat of a catastrophic earthquake, state lawmakers on Wednesday will take up the complex but necessary issue of how to convince the carriers to stay.

Between March and May insurance and related jobs rose by 15,000, inching closer to 3 million employed in the industry, and about 150,000 above the pre-pandemic count in January 2020, according to the Bureau of Labor Statistics.

The recently released J.D. Power 2023 U.S. Auto Insurance Study has found that nearly one-third of auto insurance customers in the United States have experienced rate hikes over the past year. The insurance industry has raised rates by an average of 15.5%, leading to substantial dissatisfaction among policyholders.

Despite the industry's stodgy reputation, insurance is often ahead of the curve, embracing new technologies that improve efficiency, enhance customer experience and increase profitability.

Insurers in Texas can no longer account for environmental, social or governance criteria when setting rates for almost all forms of insurance under a bill passed by the Legislature last month.

Insurance claims is a dynamic and fast-paced field that requires professionals to possess a wide range of skills and competencies. While academic institutions provide a foundation of knowledge, there are certain skill gaps that schools have failed to adequately address, hindering the readiness of new entrants.

Employees at insurance giant Farmers Group are seething following the company's recent decision to backtrack on its remote work policy. Under the leadership of newly appointed CEO Raul Vargas, Farmers Group, based in California, has overturned the previous policy that allowed most employees to work from home.