While every carrier manages claims operations in a slightly different way, there are three consistent technology setups currently in practice: Green Screen, Home-Grown and Modern.

"Even as we focus on preventing and deterring malicious cyber activity, we must also maintain resilience as events occur.… By applying lessons learned from past incidents we can improve management of future cyber incidents and enhance the country’s cyber-resilience."

Cyber threats pose a nearly immeasurable risk to an industry based on stored private information. Dark Overlord is the name of an individual or group behind what may be a massive cyberattack on insurance companies.

The city of Los Angeles is suing International Business Machines Corp.’s Weather Channel unit, accusing the company of misleading consumers about how their location data was being used.

I have been asked a number of times to provide my perspective on the insurance industry in the time of the Industrial Revolution 4.0. In this piece I’ll do so, but first, how did we get to 4.0? What preceded and led to this brave new world of what’s now called “IR4”?

In 2018, insurtech investment and interest from insurers in technology solutions appeared to keep up with trends seen in previous years, though not all segments of the insurance industry have seen equal enthusiasm for value propositions that aim to improve business processes.

The flying cars depicted in science fiction classics such as “Blade Runner” and “The Fifth Element” have long been seen as flights of fancy, but their arrival is closer than you think.

State Farm is working on a blockchain application to assist in subrogation, leveraging open-source software and in partnership with at least one other insurer.

Property/casualty claims is destined to transform more than any other area of the insurance business over the next decade. Many may see that as a provocative statement, especially with all the attention on distribution and underwriting.

When 11 insurance startups sat down to work for the first time in the Stilts Building last January, they held the hopes of an anxious industry. They’d come to Hartford for the city’s inaugural, and untested, accelerator program, the Hartford InsurTech Hub.

It’s the holy grail of the insurance claims business: The near-instantaneous cycle time of truly touchless claims. Insurers are eager to realize the benefits of reduced expenses, higher client satisfaction, and, possibly, better outcomes.

Claims and technology are joining forces to change the function as we know it. For many years, the industry relied on paper-based, time-consuming systems for managing claims.

A new artificial intelligence system can now help insurers and the police identify fake robbery claims. Developed by researchers from Cardiff University and the Charles III University of Madrid, the AI system “VeriPol” utilizes automatic text analysis and machine learning to identify false statements.

As wildfires raged this month in California, insurance claims experts at Travelers sat in a command center 3,000 miles (4,828 kilometers) away in Connecticut, monitoring screens showing satellite images, photos from airplane flyovers and social media posts describing what was happening on the ground.

Florida’s second-largest home insurer, Security First Insurance faced more than 3,000 claims in the aftermath of Hurricane Michael earlier this year. It was the perfect time to deploy a new tool to help manage the load: A new chatbot servicing affected policyholders.