An annual operational review of claims departments is essential to improve efficiency, ensure compliance, and deliver exceptional customer service in an evolving insurance industry.

Strong underwriting and moderate pricing gains sustain profitability in U.S. commercial insurance, despite pressures from casualty claims, social inflation, and evolving liabilities.

Fragmented data sources and limited integration are stalling the insurance industry’s ability to address climate risks, experts emphasize at the Global Insurance Forum.

As cloud computing reshapes IT operations, the traditional value of source code escrows is diminishing, prompting insurance CIOs to rethink business continuity and vendor risk strategies.

MIT researchers combine generative AI and physics models to create realistic satellite images of future floods, enhancing readiness and emergency planning.

Businesses must strike a balance between innovative AI tools and human intuition to meet evolving customer expectations and deliver exceptional experiences.

A ransomware attack on Blue Yonder, a software provider for scheduling and supply chain management, disrupted Starbucks’ systems, forcing manual payroll and scheduling for workers in North America.

New York’s highest court has upheld Uber’s arbitration requirement in a case involving a preexisting injury lawsuit, ruling the company’s clickwrap agreement is a valid contract.

New York imposes $11.3M in fines on GEICO and Travelers after data breaches exposed personal information of over 120,000 customers, citing insufficient cybersecurity controls.

RiskScan 2024 highlights how cyber incidents, climate change, and economic inflation dominate risk concerns across insurers, businesses, and consumers, revealing critical gaps in awareness.

A class action lawsuit against SafeRent Solutions over alleged discriminatory algorithms concludes with a $2.2 million settlement and restrictions on AI screening practices.

Liability claims are surging due to nuclear verdicts, evolving litigation trends, and the influence of AI, according to Allianz Commercial’s latest report.

AI-powered weather models, like Google DeepMind’s GraphCast, are transforming hurricane forecasting, demonstrating enhanced accuracy and speed compared to traditional physics-based methods.

The 2024 Global Innovation Awards celebrated the innovative strides of insurers and insurtechs in Property & Casualty, Life | Health | Retirement, and Predict & Prevent categories at the Global Insurance Forum in Miami.

Automation can streamline claims management by addressing fragmentation, enhancing security, and meeting rising customer expectations while improving efficiency and satisfaction.