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Florida House To Vote On Auto Glass Repair Bill With ‘Steering’ Amendment

Florida House To Vote On Auto Glass Repair Bill With ‘Steering’ Amendment

Championed by industry groups and CFO Jimmy Patronis, a bill curbing auto glass repair lawsuits sped through its last committee stop in the House and now awaits a full chamber vote.
April 11, 2023 Auto Insurance Industry Legislation & Regulation Litigation Florida

Firm Files 25K Lawsuits Against Florida Insurers Within Six Days

Firm Files 25K Lawsuits Against Florida Insurers Within Six Days

Litigation is rarely warm and fuzzy, but what's unfolding in Florida between plaintiffs firm Morgan & Morgan and the insurance industry puts hardball tactics in a new light.
April 11, 2023 Insurance Industry Legislation & Regulation Liability Litigation Technology Florida

Can Blockchain Transform Insurance?

Can Blockchain Transform Insurance?

According to recent market research, blockchain in insurance will expand from $64.5 million of revenue and cost savings in 2018 to $1.4 billion this year -- a compound annual growth rate of 85%!
April 11, 2023 Insurance Industry Technology

"Risk Management Is Shifting" -- The Institutes CEO

"Risk Management Is Shifting" -- The Institutes CEO

A predict and prevent approach to risk management is becoming more significant as technological developments create added value for both brokers and their policyholders.
April 7, 2023 Insurance Industry Risk Management Technology

Zurich Latest To Drop Out Of Net-Zero Insurance Alliance

Zurich Latest To Drop Out Of Net-Zero Insurance Alliance

Zurich Insurance Group has become the latest Net-Zero Insurance Alliance (NZIA) member to quit the organization within days, hot on the heels of Munich Re.
April 6, 2023 Insurance Industry Risk Management

Huge Insurer Impairments Revealed

Huge Insurer Impairments Revealed

Catastrophe losses were the driving force behind the 17 impairments of US property & casualty insurers in 2021, according to a new report by AM Best.
April 6, 2023 Insurance Industry Legislation & Regulation

Insurance Sector Primed For Wider Use Of AI

Insurance Sector Primed For Wider Use Of AI

Artificial intelligence, all the rage in popular culture, is not a new fad in the insurance market, where it quietly powers operations that make businesses run more efficiently, at lower costs and with fewer errors.
April 5, 2023 Insurance Industry Technology

IMF Calls For Rules On Non-bank Financial Sector To Prevent Turmoil

IMF Calls For Rules On Non-bank Financial Sector To Prevent Turmoil

The non-bank sector now accounts for half of the assets of the entire world financial system and should be more closely regulated to protect its stability, staff economists from the International Monetary Fund said on Tuesday.
April 5, 2023 Insurance Industry Legislation & Regulation

Preparing For Storm Season

Preparing For Storm Season

The storms of life exist to teach valuable lessons -- literally and figuratively. In the world of insurance, post-catastrophe analysis is crucial for making effective changes in a response plan to continue improving year over year.
April 4, 2023 Catastrophe Insurance Industry

Is My Organization Actually Innovative?

Is My Organization Actually Innovative?

The best place to look for innovation is in the quality of decisions being made. Here are three ways you should evaluate your performance.
March 22, 2023 Insurance Industry

Explainable AI Is The Holy Grail

Explainable AI Is The Holy Grail

While many promises of disruption from insurtechs have fallen flat, now is the time to lean into digital transformation. On the cusp of a potential economic downturn, organizations must continue to adopt advanced solutions that foster quantifiable ROI and impact.
March 21, 2023 Insurance Industry Technology

New Frontier In UX, Risk Coverage

New Frontier In UX, Risk Coverage

The metaverse is coming -- fast. In PwC's 2022 US Metaverse Survey, 82% of business executives (including 87% of insurance executives) said they expect metaverse plans to be part of their business activities within three years.
March 20, 2023 Insurance Industry Technology

Pay Equity In The Insurance Industry: It Makes Good Business Cents

Pay Equity In The Insurance Industry: It Makes Good Business Cents

The gender pay gap is a sensitive topic we need to spotlight. We've seen it in every industry, from entertainment -- when Patricia Arquette called for wage equality in her 2015 Oscars acceptance speech -- to Wall Street, when CNBC reported in 2019 that Citibank admitted that its female employees earned 29% less than its male employees globally.
March 20, 2023 Insurance Industry

Ripple Effect: Silicon Valley Bank’s Insolvency

Ripple Effect: Silicon Valley Bank’s Insolvency

Financial institutions, including Insurers, are considering the potential impact of the Silicon Valley Bank's ('SVB's') insolvency. SVB and its parent holding company have provided funding and debt financing to InsurTech Insurers and other venture investment firms.
March 16, 2023 Insurance Industry

5 Key Challenges Where RPA Shines

5 Key Challenges Where RPA Shines

Considering the pivotal role played by insurers, all data must be given accurately and all processes compliant. So, insurers must be able to count on the effectiveness and stability of their operations--and robotic process automation can help.
March 16, 2023 Insurance Industry Technology
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