Artificial intelligence can make it nearly impossible for fraudsters to make a false claim appear real, the founder of an A.I. vendor suggests. If an auto insurance claim is fraudulent, A.I. software could pick up on that as long as it has enough data about other fraudulent and legitimate claims, said Gary Saarenvirta, founder and CEO of Toronto-based Daisy Intelligence.
After three intense and exhausting days at InsureTech Connect last week, Im a little conflicted. It was quite exciting. And there are many fascinating companies and ideas that are truly transforming our industry.
There are over a thousand exoskeleton units currently in use at job sites around the world, and their number is expected to increase at a significantly faster rate. In some cases, they are even becoming mandatory safety equipment.
The digital revolution underway in the insurance industry is affecting nearly every facet of insurance, and claims handling and management is no exception.
Drone technology can significantly reduce claims processing costs, but barriers remain to universal adoption by insurers and claims adjusters, a panel of experts said.
Workload is the number one cause of stress in the workplace, when compared with other factors including people issues, work-life balance and lack of job security, according to Statista.
Travelers has partnered with Hover to incorporate 3-D modeling technology into its claims assessment. Hovers technology transforms smartphone images of property into 3-D models, which will improve property damage views with detailed measurements of buildings.
The world of self-driving trucks continues to expand as new technologies are being tested and more companies are emerging with revolutionary autonomous fleets of semi-truck tractors that increase safety and efficiency.
FloodMapp, a real-time flood-prediction technology, has announced that it is launching in the US. The software will be showcased at the InsurTech Connect conference in Las Vegas Sept. 23-25.
Business email compromise (BEC) has overtaken ransomware and data breaches as the main reason companies filed a cyber-insurance claim in the EMEA (Europe, the Middle East, and Asia) region last year, said insurance giant AIG.
It comes as no surprise to hear that ransomware attacks are on the rise, but new perspectives are connecting this trend with increasing the availability of products from cyber insurance companies.
To some, it is magic. To insurance, it is reality. The ability to accurately discern the past and predict the future based on nothing but data points and the long-lived experience of actuaries and adjusters has served the industry well, allowing insurance to become a multibillion-dollar industry.
The National Transportation Safety Board (NTSB) said on Tuesday that a Tesla Model S was in Autopilot mode and the drivers hands were off the wheel when it struck a fire truck in Culver City, California, one of a series of crashes the board is investigating involving Teslas driver assistance system.
Tesla Inc (TSLA.O) said on Wednesday it was launching an insurance service designed to give drivers in California, its biggest market, lower rates because of safety features on its electric vehicles.