AI Tool Creates Accurate Satellite Images Predicting Floods
MIT researchers combine generative AI and physics models to create realistic satellite images of future floods, enhancing readiness and emergency planning.
December 2, 2024
Catastrophe
Insurance Industry
Risk Management
Technology
Texas
Bridging the Gap Between AI and Human Touch in Customer Experience
Businesses must strike a balance between innovative AI tools and human intuition to meet evolving customer expectations and deliver exceptional experiences.
December 2, 2024
Auto
Insurance Industry
Technology
Ransomware Attack Forces Starbucks to Manually Track Employee Hours
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.
November 26, 2024
Insurance Industry
Risk Management
Technology
Workers' Compensation
Arizona
New York High Court Enforces Uber’s Arbitration Clause Despite Preexisting Injury Lawsuit
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.
November 26, 2024
Legislation & Regulation
Liability
Litigation
Technology
California
Connecticut
Illinois
Massachusetts
New York
New York Penalizes GEICO and Travelers Over Auto Insurance Cybersecurity Breaches
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.
November 26, 2024
Auto
Legislation & Regulation
Liability
Technology
New York
Top Insurance Risk Concerns Revealed in RiskScan 2024 Report
RiskScan 2024 highlights how cyber incidents, climate change, and economic inflation dominate risk concerns across insurers, businesses, and consumers, revealing critical gaps in awareness.
November 26, 2024
Education & Training
Property
Risk Management
Technology
AI-Based Tenant Screening Settlement Highlights Alleged Algorithmic Bias
A class action lawsuit against SafeRent Solutions over alleged discriminatory algorithms concludes with a $2.2 million settlement and restrictions on AI screening practices.
November 22, 2024
Legislation & Regulation
Litigation
Risk Management
Technology
Massachusetts
Emerging Trends in Liability Claims Reshape U.S. Risk Landscape
Liability claims are surging due to nuclear verdicts, evolving litigation trends, and the influence of AI, according to Allianz Commercial’s latest report.
November 22, 2024
Liability
Litigation
Technology
Florida
AI Weather Models Prove Effective During Hurricane Season
AI-powered weather models, like Google DeepMind’s GraphCast, are transforming hurricane forecasting, demonstrating enhanced accuracy and speed compared to traditional physics-based methods.
November 20, 2024
Catastrophe
Insurance Industry
Risk Management
Technology
Louisiana
Texas
Winners of the Global Innovation Awards 2024 Recognized for Industry-Shaping Contributions
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.
November 20, 2024
Life & Health
Property
Risk Management
Technology
Overcoming Common Challenges in Insurance Claims Processing
Automation can streamline claims management by addressing fragmentation, enhancing security, and meeting rising customer expectations while improving efficiency and satisfaction.
November 20, 2024
Insurance Industry
Property
Risk Management
Technology
P&C Insurance Embraces Advanced Technology to Tackle Weather and Cyber Risks
Property and casualty insurers are adopting AI and aerial imagery to address climate challenges, cybersecurity concerns, and improve underwriting accuracy, according to a Nearmap report.
November 20, 2024
Catastrophe
Property
Risk Management
Technology
Transforming Claims with Technology: Predictive Analytics and Machine Learning
Predictive analytics and machine learning are reshaping insurance claims management by enhancing efficiency, detecting fraud, and improving customer satisfaction.
November 18, 2024
Fraud
Insurance Industry
Risk Management
Technology
Insurance Sector on the Brink of Change with Generative AI Advances
AI, driven by breakthroughs in computing power and generative models, is reshaping claims processing, customer service, and operational efficiency in the insurance industry.
November 18, 2024
Insurance Industry
Technology
Underwriting
Insurers Turn to AI Models to Tackle Rising Losses from Extreme Weather
A ZestyAI survey reveals growing confidence in AI risk models, with insurers emphasizing the importance of innovation in addressing climate-related challenges and profitability.
November 18, 2024
Catastrophe
Insurance Industry
Risk Management
Technology
