IIHS: Rear Autobrake ‘Standout Feature’ In Reducing Liability, Collision Claims
Updated Highway Loss Data Institute research into rear autobraking found the ADAS technology cut property damage liability claims 28 percent and collision claims 10 percent, the Insurance Institute for Highway Safety said Thursday.
January 11, 2021
Auto
Liability
Technology
Overcoming AI’s Bias
If people intend to use data to help mitigate risk or save lives, that data must be trustworthy, says an artificial intelligence expert.
January 8, 2021
Technology
Deepfake Tech Could Be Major Threat
The use of deepfake video and audio technologies could evolve into a major cyber threat to businesses within the next two years, according to cyber analytics specialist CyberCube.
January 8, 2021
Excess & Surplus Lines
Technology
Through The Looking Glass
While 2020 was an unusual year, it highlighted many of the things the insurance industry is doing well and some areas where it could see some improvement.
January 8, 2021
Litigation
Technology
Tapping Cloud’s Ability To Drive Innovation
As insurers accelerate their digital transformation and customize solutions in areas like customer engagement and data management, they are realizing that they must overhaul traditional approaches and infrastructures and replace them with forward-looking, cloud-enabled solutions.
January 7, 2021
Technology
Banishing Busywork: Recruit The Robots
Robots, biometrics and smart devices. If you had told me 10 years ago I’d not only have access to these innovative technologies but would use them daily, I’m not sure I would have believed you. Yet here I am, using facial recognition to unlock my phone, log into apps and access my bank accounts.
January 6, 2021
Technology
Culture And Connected Experiences Are More Important Than Ever When It Comes To Claims Management In The Digital World
2020 has certainly proven to be a year of unprecedented disruption and change, largely brought on by the novel coronavirus. Phrases like work-from-home, social distancing, personal protective equipment, and video call have erupted in our daily usage in just a few short months.
January 5, 2021
Technology
The Institutes RiskStream Working On Surety Bond Blockchain Solution
Yesterday insurance blockchain consortium The Institutes RiskStream Collaborative announced a new working group for Surety Bonds, which are usually required by government and construction contractors to ensure they fulfill their obligations to their client.
December 18, 2020
Technology
AI And Discrimination In Insurance
This past summer, a group of African-American YouTubers filed a putative class action against YouTube and its parent, Alphabet. The suit alleges that YouTube’s AI algorithms have been applying “Restricted Mode” to videos posted by people of color, regardless of whether those videos actually featured elements YouTube restricts, such as profanity, drug use, violence, sexual assault or details about events resulting in death.
December 15, 2020
Technology
AmFam Claims Strategy Through COVID And Beyond
The coronavirus pandemic has given insurance companies an unexpected opportunity to try out some fully virtual or heavily tech-driven claims processes. It has pushed traditional insurance carriers beyond the “old way” of inspecting claims and has triggered a wave of innovation in what has long been considered a slow-moving industry.
December 7, 2020
Technology
Surging Costs Of Cyber Claims
External attacks on companies result in the most expensive cyber insurance losses, but employee mistakes and technical problems are the most frequent generator of claims by number, according to a new report from Allianz Global Corporate & Specialty, Managing The Impact Of Increasing Interconnectivity – Trends In Cyber Risk.
December 2, 2020
Excess & Surplus Lines
Technology
Smart Contracts In Insurance
In the past years, we’ve seen a steadily growing interest in distributed ledgers and smart contracts. The financial industry has already been largely disrupted by these innovations.
December 1, 2020
Technology
P&C Claims: 4 Themes For The Future
Property and casualty claims is already one of the most dynamic, exciting and important areas of the insurance business. Whether we are considering personal or commercial lines, or the auto, property or casualty/medical areas, there is a lot going on.
November 30, 2020
Technology
OnStar: Next Step For OEM Partnerships
GM announced this week that it will start selling policies directly to drivers through its new OnStar Insurance program. The company will start with its employees in Arizona and plans to expand to the general public by the end of 2021.
November 25, 2020
Auto
Technology
The Use Of Blockchain In Insurance Is $1B Worth Of Good News
Accenture reports that the global market for blockchain in insurance is expected to grow to $1.39 billion by 2023. There are countless use cases for blockchain in insurance, as it is an industry of contract execution, detailed and confidential data collection, and third-party payments.
November 24, 2020
Technology
