‘Predict & Prevent’ Can Rescue Insurance
Soaring combined ratios demonstrate P&C insurance is due for fundamental, structural reform. Innovative solutions are available.
October 10, 2023
Insurance Industry
Risk Management
Technology
Truist in Talks to Sell Insurance Business for $10 Billion
Truist Financial is in talks to sell its insurance brokerage unit to private equity firm Stone Point for about $10 billion, news website Semafor reported on Monday, citing people familiar with the matter.
October 10, 2023
Insurance Industry
Technology
Using an Accident Reconstructionist for Rapid Response in Claims Investigations
Often, when a commercial motor vehicle driver reports an accident, the details of the collision are murky, and the severity of the accident is understated.
October 10, 2023
Auto
Education & Training
Technology
Generative AI: The Good, the Bad, and the Ugly
Prompt: Write me a one-to-two paragraph magazine article introduction about artificial intelligence being a mind extension tool, as defined by Clark and Chalmers’ extended mind theory.
October 9, 2023
Insurance Industry
Technology
How Job Analyses Could Help More Employers Enhance Safety at Work
As labor shortages and widespread economic challenges require a level of nimbleness from everyone in the workforce, companies today often need their employees to be able to pivot.
October 9, 2023
Education & Training
Technology
Workers' Compensation
Business Owners Worry About Gaps in Insurance Coverage, Survey Finds
About 8 out of 10 business owners recently surveyed expressed worries that specific events or losses would have the potential to affect their firms despite their existing business insurance coverage. Life insurance and business owner policies tied as the top concerns.
October 4, 2023
Insurance Industry
Risk Management
Technology
Bogged by Legacy Systems, Insurers Lose Competitive Edge
New research highlights the urgency for insurance companies to shift from complex, costly legacy systems burdened with outdated technology to modern systems to remain competitive in the current market, according to a new report released by Info-Tech Research Group.
October 4, 2023
Insurance Industry
Risk Management
Technology
Traveling Down a Bumpy Road: Carrier Challenges and Opportunities
With rising inflation and interest rates, geopolitical tensions, climate change uncertainty, and growing competition, U.S. insurance carriers face several challenges to delivering consistent, high-quality insurance services and products to the marketplace.
October 3, 2023
Education & Training
Insurance Industry
Legislation & Regulation
Risk Management
Technology
Tesla Owners Must Arbitrate False Advertising Claims over Autopilot Feature
A California federal judge has ruled that a group of people who own cars made by Tesla Inc TSLA.O must pursue claims that the company misled the public about its autopilot features in individual arbitration rather than court.
October 3, 2023
Auto
Litigation
Technology
California
Americans Skeptical of AI Insurance Agents, Survey Reveals
A recent survey conducted by the online insurance agency, GetSure, has revealed that a significant number of Americans are hesitant about the idea of interacting with AI insurance agents. This finding sheds light on the sentiments of the nation, potentially comforting the country’s 1.6 million human insurance agents.
October 2, 2023
Insurance Industry
Technology
California’s New Firefighting Ally is Artificial Intelligence
Firefighters want every leg up they can get to knock out a blaze before it becomes an inferno. The California Department of Forestry and Fire Protection says it has a new tool to battle wildfires before they explode -- artificial intelligence.
September 28, 2023
Property
Technology
California
Dark Web’s WormGPT Assists Hackers in Phishing Attacks
A ChatGPT-style tool designed to assist cybercriminals will let hackers develop sophisticated attacks on a significantly larger scale, researchers have warned.
September 19, 2023
Fraud
Technology
Blockchain Is Here. But Can Insurance Unlock Its ROI in Meaningful Ways?
As blockchain technology matures and more players in the insurance industry integrate it into their operations, many are wondering what kind of return companies are seeing on their blockchain investments.
September 18, 2023
Insurance Industry
Technology
Customer Trust Emerges as the Key Factor in Claims Processing
New data from claims automation insurtech Sprout.ai revealed that customers place greater importance on fair decision-making and trust than speed when settling insurance claims using AI.
September 15, 2023
Insurance Industry
Technology
Congress Seeks Guidance from Tech Industry Titans on AI Regulation
Nearly two dozen leaders of tech companies and other groups met Wednesday behind closed doors with U.S. senators as part of a broader discussion into how Congress can regulate artificial intelligence.
September 15, 2023
Legislation & Regulation
Technology
