While ransomware remains a plague on organizations around the world, a new report from commercial insurance firm Corvus indicates that ransomware costs are being cut considerably due to better preparedness.

Just a bit more than a year ago, a driver made a phone call to their insurance company — and made history. How? Well, the insurance claim that followed was the first-ever completely touchless claim — in that it was entirely carried out by a trained artificial intelligence (AI).

Explainable AI is evolving to give meaning to artificial intelligence and machine learning in insurance. The XAI (explainable AI) model has the key factors, which are explained in the passed and not passed cases.

The evolving risk landscape suggests that global insurance premiums could reach USD 10 trillion by 2030, with climate change predicted to result in a tenfold rise in economic losses over the next 30 years, according to a new report from Bain & Company.

Insurance agents and adjustors are often away from their desks attending to customer needs and inquiries in the field. Typically, property insurance adjustors are some of the first on the scene after a natural disaster or personal property emergency.

Insurance carriers have invested in core systems to help streamline their internal claims-handling processes. As a result of improvements in these internal processes, data is more readily available for analysis.

The global pandemic accelerated many technological advances that were already underway in the insurance industry, changes that are likely to pick up speed as COVID-19 recedes, according to Rohit Verma, CEO, Crawford & Co.

Robotic process automation (RPA) can be used to automate manual, high-volume and repetitive data tasks — especially those where human touch does not add value. Think of all the needlessly manual data entry involved in your underwriting and claims processes.

CCC Intelligent Solutions has launched a photo-based estimating service that uses artificial intelligence (AI) and ‘insurer-driven’ rules to generate what it calls ‘detailed and actionable’ line-level repair estimates in a matter of seconds.

In all my years covering all manner of technology, telematics may have caught me off-guard the most. When I first wrote about Progressive’s auto telematics program, Snapshot, in 1998, it seemed like a slam dunk.

The nationwide surge in used vehicle prices has given an unexpected boost to auto insurance customers who experience a total loss---their vehicles might be worth more than they thought.

We drive in interesting times. A paradigm shift in driving technology hovers on the horizon, and it might end the era of human drivers.

Global investment in insurance technology (insurtech) start-ups totalled $10.5 billion in the first nine months of 2021, a record high level for the period, reinsurance broker Willis Re said on Wednesday.

There is tremendous momentum for leveraging technology in claims, but that does not mean the adjuster will become obsolete.

Two weeks ago, during an on-stage conversation in Las Vegas with Munich Re board member Lisa Pollina, Chubb CEO Evan Greenberg commented that insurtech’s promises of transformation are ‘just hype.’