Advancements in technology are changing the risk landscape irrevocably and driving potential big changes in liability, and other insurance, claims activity.
Anthony Levandowski, the engineer at the center of this years corporate espionage trial between Waymo and Uber, has a history of bending the rules when it comes to self-driving cars, the New Yorker reports.
Theres plenty of attention paid when a company like Target or Home Depot gets hacked. These major cyber breaches attract extensive media coverage, often creating the illusion that its only big businesses that are at risk of an attack. But thats far from the case.
The Information is reporting today on Apples five-year struggle to tackle iPhone repair fraud. The scheme centres around crime gangs who were buying or stealing iPhones, removing valuable parts like CPUs and screens, and then claiming their devices were broken at Apple Stores and getting the Genius to replace them under warranty. The parts were then sold on.
The Travelers Companies, a major national insurer, has made an undisclosed but apparently substantial investment in drone operations software company Kittyhawk. The investment strengthens a partnership between Kittyhawk and Travelers and signals a deepening reliance on drones to assess property claims in the insurance industry, particularly after natural disasters.
The severity of some accidents may increase as vehicles become driverless, in part because driver orientation will change, a crash reconstructionist told Canadian Underwriter in an interview last week.
Progressive Insurance Co.s Snapshot Program is the focus of a proposed class action lawsuit filed in Ohio district court. According to the 13-page complaint, the Snapshot device that drivers plug directly into their cars to collect data for the purpose of calculating insurance rates is defective to the extent that it may significantly damage the users vehicle.
The Institutes RiskBlock Alliance, a blockchain consortium representing 31 risk management and insurance companies, announced today that it has selected global professional-services organization Deloitte to help advance its blockchain application and product-development efforts.
Digital giant Amazon weighs on the minds of many companies, but for insurers, the recent news has been even more acute: The company has been heavily rumored to be interested in selling insurance in some form, using its Echo smart device ecosystem, powered by the voice assistant Alexa, as an "in" with customers.
Quantum computing represents the next true frontier in computing power, and with its advance will usher in incredible opportunities in data analysis, artificial intelligence and augmented reality systems. That is the good news. The bad news, for the unprepared, is that quantum computing will have the ability to strip through todays encryption processes like a tornado in a trailer park.
The Institutes RiskBlock Alliance and LIMRA have announced the first blockchain use case for the insurance consortias newly formed life and annuity sector. The application, Mortality Monitor, will leverage Social Security data, other data sources and policyholder records to provide real-time notification to members of the death of life insurance and annuity policyholders.
The Institutes RiskBlock Alliance, a blockchain consortium representing 31 risk management and insurance companies, has launched Canopy, the industrys first end-to-end reusable blockchain framework, using the Corda blockchain platform.
With the remnants of Hurricane Florence continuing to deluge the southeastern U.S., a small army of drones is being deployed to identify and fix damage caused by flooding.
A potentially devastating Hurricane Florence is rumbling toward the Carolina coast this weekend, but for as historic as each new storm seems to be, insurers are preparing in relatively typical ways like activating additional staff in preparation for an onslaught of claims.
Artificial intelligence is the new electricity. We hear it will fundamentally shift the balance of power between labor and capital, mostly by rendering labor obsolete. It will enable and empower transformative technologies that will rearrange the sociopolitical landscape and may lead to humanitys transcendence (or extinction) within our lifetimes.