Artificial intelligence and machine learning have become so prevalent that many businesses now heavily rely on algorithms to make decisions that can impact our daily lives, from security scans and medical diagnostics to mortgage approvals and customer service interactions.
The business of insurance claims can be risky and costly. The ability to manage and mitigate risk can mean the difference between profitability and lost revenue.
Advances in digital aerial imagery, satellites, LIDAR and drones are providing a more detailed understanding of commercial property risks than ever before.
In a world of straight-through-processing and ‘touchless’ claims, customers are demanding faster pay-outs on their insurance claims through smarter, more intuitive digital interactions and customer-centric support models.
When a stopped Florida Highway patrol car and then a disabled Mercedes SUV were hit by a Tesla early Saturday morning on I-4 in downtown Orlando, the driver told troopers her Autopilot feature in her Tesla Model 3 was on.
Claims leaders will need to evolve their mindsets if property & casualty insurers are to succeed in meeting customer demands post-COVID, senior Desjardins Insurance Group execs suggest.
Only 17% of consumers say they’d be comfortable with the idea of insurance claims for their home, renters, or vehicles being reviewed exclusively by AI.
While the COVID-19 pandemic has accelerated P&C’s digitization investments, the need for human connection within digital insurance should not be overlooked, a digital identity firm says.
The risk control profession has massively changed of the past 50 years, and is set to change even more in the near future, according to an industry white paper by the risk management business of insurance giant Sompo.
Allianz, Europe’s largest insurer, went into production mid-May with a solution to streamline international motor insurance claims. The enterprise blockchain platform has been deployed across 23 European subsidiaries.
In 1975, the Argentina grain exporter Bunge & Born paid $60 million to free a kidnapped executive. That ransom payment remains the largest ever paid for a single person, but his case marked the beginning of the end for high-profile hostage events.