Generative AI is moving beyond enhancing efficiency for insurance professionals. It now holds potential for transforming risk management, customer interaction, and even product offerings.

The Casualty Actuarial Society has released four new reports that explore bias in insurance pricing models, AI usage, and regulatory concerns, aiming to guide actuaries toward fairness and compliance.

As elder fraud losses soar past $3.4 billion, cybersecurity risks grow more complex. Personal cyber insurance offers broader protection, covering identity theft, online fraud, and other cybercrimes targeting vulnerable populations.

COVID-era worker activity monitoring tools have evolved into sophisticated AI data generators, helping insurers tackle rising repair costs, litigation, and labor shortages while improving operational efficiency.

Nintendo and affiliate Pokemon Co. have filed a lawsuit against Pocketpair Inc. for alleged patent infringement tied to Palworld, citing gameplay mechanics as a potential issue. The case seeks an injunction and damages.

Ohio’s successful collaboration between universities, insurance companies, and stakeholders offers an effective model for recruiting and educating new talent in the insurance and risk management fields.

Insurance industry HR leaders continue to battle long-standing challenges like talent retention, while preparing for AI’s impact on workforce management in 2024.

In response to pandemic-era unemployment fraud, lawmakers propose solutions to improve fraud prevention and equity in UI systems, leveraging technology and data-sharing practices.

Business leaders are increasingly concerned about technology becoming obsolete due to rapid innovations like AI, while focus on cyber risk is declining, despite escalating cyber threats.

Insurance professionals are grappling with AI integration and outdated pricing technology, as revealed by hyperexponential’s "State of Pricing 2024" report, highlighting concerns about skills gaps and future roles.

As AI transforms the property and casualty insurance industry, insurers are uniquely positioned to guide ethical standards, balancing innovation and risk management while collaborating with regulators.

The 2024 Global Claims Fraud Survey from RGA reveals persistent fraud challenges, with 74% of insurers reporting steady or rising fraud cases, emphasizing the need for enhanced detection and prevention measures.

Software is helping injured workers track their recovery, shifting the focus in workers’ compensation from cost containment to achieving faster, better outcomes that benefit both employees and employers.

Cyber attacks on U.S. utilities have surged nearly 70 percent this year, exposing vulnerabilities in outdated software and expanding infrastructure. Experts warn a large-scale attack could cripple essential services.

AI-enabled digital twins are revolutionizing how property and casualty insurers assess risk and protect policyholders from climate-related damages, offering enhanced accuracy and predictive capabilities.