Leaders in the insurance industry, like many other industry executives, are seeking routes to profitable growth amid unprecedented economic, financial and regulatory change.

Insurance tech company Think Geohazards has released an enhanced version of its flood risk estimation tool to allow flood insurance carriers and government agencies to more precisely project flood loss in any given area.

From bogus claims to shady brokers, insurance fraud costs companies and their customers more than $40 billion a year, the FBI estimates. And that’s excluding medical insurance fraud, which is estimated by industry groups to cost tens of billions more.

Across the insurance industry, claims organizations have made significant progress in modernizing their core processing systems in the last several years.

Independent adjusting company ClaimsPro announced this week that it has prepared a dedicated adjuster team for the cannabis industry, just as Canada moves to legalize marijuana in October.

Insurance is a multitrillion-dollar industry, but the workflow in brokering trust, insuring parties and reinsuring risk items today remains an expensive, slow and fraud-prone process.

Fourseventy Claims, a leading independent adjustment firm and third-party administrator, today announced a new collaboration with Spex Technologies, a premier insurtech platform provider that delivers better claims processing, property inspections and reporting.

The insurance industry has been adopting technology at an inspiring rate: Artificial intelligence, machine learning and blockchain enable simpler and faster quotes, more intelligent claims and a friendlier customer experience.

Prevention. In the insurance world, taking preventative measures against exposures is key to the business, but some threats are just not preventable — one of them being cyber.

Warren Buffett’s caution about underwriting cyber-insurance put the spotlight on one of the big challenges facing carriers today — how to address a slew of new insurance risks.

Small insurers or mutuals may decide to partner with independent adjusting (IA) firms as a way of providing them with flexibility on costs and full-time staff.

Parametric insurance could become more mainstream in the commercial sector and help clients address some of the limitations of traditional insurance — that’s according to a new report from Airmic in collaboration with Marsh and Swiss Re Corporate Solutions.

The wave of natural disasters that struck North America and the rest of the world last year led to an increase in insured losses seen in 2016 to $144 billion for 2017, according to a recent Swiss Re report. Yet the catastrophic year also led to a reckoning for property insurance pricing as rates continue to rise.

Launched only 14 days ago, the new CRU VUE Roof Image Program is currently running 8 separate two-person teams across Ontario and will be adding another 4 teams in the coming week. Since initial roll-out, CRU VUE has already processed over 1000 claims providing high definition imagery without climbing roofs.

Boards need to reappraise their approaches to risk management to take full advantage of the opportunities presented by the so-called Fourth Industrial Revolution, according to a new report for Airmic prepared by the CASS Business School.