8 Key Insurtech Trends For 2019
The industry used to be a tech laggard. No more. Though there’s still much work to be done, most insurers are now better-positioned to capitalize on their investment in technology.
January 16, 2019
Risk Management
Technology
Tech Helps Transportation Firms Fight Nuclear Court Verdicts
The commercial transportation industry in North America is “barely keeping up with the loss trends,” according to a casualty underwriter at Swiss Re. The market is under “significant pressure” following a 5-10-year period where the frequency and severity of losses shot up and insurance rates lagged behind.
January 14, 2019
Excess & Surplus Lines
Liability
Litigation
Technology
ACORD Looking to Launch More Digital Standards
ACORD has partnered with L&T Infotech to develop digital standards for insurers. The goal of the new standards and reference architectures is to enable more microservices-powered communication protocols, helping insurance companies quickly deploy the transformative initiatives craved by carriers across lines of business.
January 14, 2019
Technology
Ohio Prosecutor Who Used Technology In Arson Cases Honored by Coalition Against Insurance Fraud
Unique uses of technology as evidence, which is a growing part of court cases, has earned a local prosecutor national recognition for convictions in two notable area cases.
January 14, 2019
Fraud
Technology
Ohio
State Farm Granted First-of-its-Kind National Drone Waiver
State Farm will continue to use drones in its insurance operations. The insurer was granted a first-of-its-kind national waiver by the Federal Aviation Administration that will allow drone operations over people and flights beyond a pilot’s visual line of sight through November 2022.
January 11, 2019
Catastrophe
Risk Management
Technology
When Tech Collides And Robots Die: The Video
I am supposed to be at CES in Las Vegas this week. Colloquially known as the “Consumer Electronics Show,” CES is the largest technology exposition and conference in the world. Last year 189,000 people swarmed sessions and exhibits in 11 Las Vegas locations to catch a glimpse of the technology that will change our lives in the near future.
January 10, 2019
Technology
Weird
Reconnecting With Customers Via Claims
While every carrier manages claims operations in a slightly different way, there are three consistent technology setups currently in practice: Green Screen, Home-Grown and Modern.
January 9, 2019
Risk Management
Technology
Cyber Security And Resilience
"Even as we focus on preventing and deterring malicious cyber activity, we must also maintain resilience as events occur.… By applying lessons learned from past incidents we can improve management of future cyber incidents and enhance the country’s cyber-resilience."
January 8, 2019
Excess & Surplus Lines
Risk Management
Technology
Dark Overlord May Prove To Be The Insurance Industry’s Biggest Threat
Cyber threats pose a nearly immeasurable risk to an industry based on stored private information. Dark Overlord is the name of an individual or group behind what may be a massive cyberattack on insurance companies.
January 8, 2019
Risk Management
Technology
LA County Sues IBM’s Weather Channel For User Location Tracking
The city of Los Angeles is suing International Business Machines Corp.’s Weather Channel unit, accusing the company of misleading consumers about how their location data was being used.
January 7, 2019
Litigation
Risk Management
Technology
California
Insurance And The Fourth Industrial Revolution
I have been asked a number of times to provide my perspective on the insurance industry in the time of the Industrial Revolution 4.0. In this piece I’ll do so, but first, how did we get to 4.0? What preceded and led to this brave new world of what’s now called “IR4”?
January 7, 2019
Education & Training
Technology
How The Claims Business Came “Out A Cave And Onto The Starship Enterprise”
In 2018, insurtech investment and interest from insurers in technology solutions appeared to keep up with trends seen in previous years, though not all segments of the insurance industry have seen equal enthusiasm for value propositions that aim to improve business processes.
January 2, 2019
Risk Management
Technology
Flying Cars May Appear In Urban Skies By 2023
The flying cars depicted in science fiction classics such as “Blade Runner” and “The Fifth Element” have long been seen as flights of fancy, but their arrival is closer than you think.
December 19, 2018
Excess & Surplus Lines
Legislation & Regulation
Technology
State Farm Turns To Blockchain For Subrogation
State Farm is working on a blockchain application to assist in subrogation, leveraging open-source software and in partnership with at least one other insurer.
December 14, 2018
Subrogation
Technology
Provocative View On Future Of Property And Casualty Claims
Property/casualty claims is destined to transform more than any other area of the insurance business over the next decade. Many may see that as a provocative statement, especially with all the attention on distribution and underwriting.
December 13, 2018
Risk Management
Technology
