Drivers who use partial automation on a regular basis often treat their vehicles as fully self-driving despite widespread warnings and numerous high-profile crash reports, a new study from the Insurance Institute for Highway Safety shows.

Basit Mian sued Progressive County Mutual Insurance, J.D. Power & Company, and Mitchell International Company, Inc., in a Texas Federal District Court, charging that Progressive’s use of a computer program called Work Center Total Loss (WCTL) undervalued his totaled vehicle by $2,073.24.

Cloud-based platforms will let auto insurers make a critical pivot away from purely reactive claims response and processing to claims minimization and avoidance.

Ransomware hackers are experimenting with a new kind of attack that, instead of encrypting data, outright destroys it. The aim is to make it impossible for victims to retrieve their data if they don’t pay the ransom.

The insurance industry is one of the largest in the world and has been around for hundreds of years, making it ripe for transformation by newcomers in the space. Over the past five to ten years, technology has pushed the frontier of what’s possible, making way for a new breed of digital-first insurance companies to come to life.

Star Trek was ahead of its time in many ways, and not just because the sci-fi franchise portrayed a future several centuries after the series first aired in the 1960s. The cult classic TV show/films imagined what life might be like in the 23rd century, when humankind could be hurtling on spaceships through unknown universes. Much of the show was fantasy, of course, but the series has been heralded for foreshadowing the future.

What is the impact of artificial intelligence in insurance? Well, there are a lot of use cases for artificial intelligence in everyday life, but what about AI in insurance? The effects of artificial intelligence in business heavily include insurance.

Recently, I hosted a training for inside adjusters, and the group consisted of around 20 seasoned claims professionals with an average tenure exceeding seven years. Most of these inside adjusters had spent at least a couple of years in the field, as well.

Sustainability is driving the confluence of the environmental, social, and governance (ESG) pillar landscape; cybersecurity; and satellite remote sensing data. Business moves faster than weather data flows, and delays in accessing current data create a broken value chain.

Insurance fraud is anything but a new concern for insurance companies and counsel. A simple online search reveals a litany of articles, investigations and reports of scams and schemes developed by would-be plaintiffs to secure damages based on accidents that were not accidental and injuries that were never sustained.

For the preoccupied adjuster flooded with claim assignments, there has been a mystery associated with the industry term ‘insurtech.’ And if that describes you, this combination of words revolves around technological innovations aimed at improving the efficiency of the insurance world.

State Farm recently announced that it has invested $1.2 billion into the ADT Inc security company, for approximately 15 percent equity and a move to support new home insurance advancements. The partnership between the two companies allows the insurer to imagine new forms of coverage.

While we all know that insurance fraud is a massive problem, we now know just how massive: more than $300 billion-a-year massive, just in the U.S. That figure comes from the Coalition Against Insurance Fraud, whose estimate would mean that fraud costs each person in the U.S. some $930 a year and the average family some $3,750.

According to leading data and analytics company GlobalData, augmented reality (AR) is set to become a $152 billion market by 2030, and its use cases for the insurance sector are only growing. The company notes that the technology’s demand among insurers has been catalysed by COVID-19 and the need for remote inspections.

Imagine a cybersecurity catastrophe like this one: A pharmaceuticals maker suffers a data breach, but no data is stolen and no ransomware is deployed. Instead the attacker simply makes a change to some of the data in a clinical trial -- ultimately leading the company to release the wrong drug.