Generative AI Revolutionizing the Insurance Industry, Prompts Innovation Funding Surge
In the face of generative AI’s rapid growth, insurance industry leaders are fast-tracking innovation and funding for digital strategies.
November 14, 2023
Education & Training
Risk Management
Technology
Underwriting
District Of Columbia
Cyber Insurance Market Emerges as a Highly Profitable Sector Despite Rising Ransomware Attacks
Amid a surge in ransomware attacks, the cyber insurance market remains highly profitable with strong growth potential, demonstrating resilience in the face of evolving cyber threats.
November 13, 2023
Liability
Risk Management
Technology
Underwriting
2023 P&C Industry Outlook: Net Combined Ratio Hits 103.8% Amid Rising Replacement Costs and Market Challenges
The property/casualty insurance sector anticipates a challenging 2023, marked by unprofitability and rising replacement costs, despite strong premium growth.
November 10, 2023
Catastrophe
Property
Risk Management
Underwriting
Mulberri Launches AI Risk Engine to Revolutionize Workers’ Compensation Underwriting
Enhancing accuracy and profitability, Mulberri’s new AI Risk Engine promises to revolutionize workers’ compensation underwriting.
November 8, 2023
Risk Management
Technology
Underwriting
Workers' Compensation
Nike Launches Legal Battle Over Sneaker Tech Patents Against New Balance and Skechers
Footwear giant Nike filed federal lawsuits against New Balance and Skechers, accusing them of infringing patents related to Nike’s technology.
November 7, 2023
Litigation
Technology
Underwriting
California
Massachusetts
Oregon
Storm Losses Dent P&C Sector Profits, Optimism Brews for 2025 Revival
Severe convective storm losses—the highest in decades—significantly affected the 2023 net combined ratio for the property/casualty industry, according to the latest underwriting projections by Triple-I and Milliman actuaries.
November 2, 2023
Auto
Catastrophe
Legislation & Regulation
Property
Risk Management
HoneyQuote Partners with First Connect to Give Agents Access to the Florida Insurance Market
HoneyQuote, a digital insurance marketplace, has partnered with First Connect Insurance Services to grant thousands of independent agents nationwide the ability to seamlessly write policies in Florida.
October 23, 2023
Insurance Industry
Property
Technology
Underwriting
Florida
The Promise of Continuous Underwriting
Typically, a risk is underwritten, bound... and forgotten. But new streams of data and automation allow for continuous underwriting.
October 12, 2023
Technology
Underwriting
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
How Proposition 103 Worsens Risk Crisis in California
California is not the only U.S. state struggling with insurance availability and affordability, but -- as described in a new Triple-I Issues Brief -- its problems are exacerbated by a three-decades-old legislative measure that severely constrains insurers’ ability to profitably insure property in the state.
September 25, 2023
Insurance Industry
Legislation & Regulation
Underwriting
California
What’s Trending in Auto Loss Combined Ratios
Some Canadian auto insurers may be experiencing fewer losses than their U.S. counterparts, a new report from ratings agency Fitch suggested.
August 21, 2023
Auto
Underwriting
Allstate to Pay $90M in Shareholder Settlement
Allstate (ALL.N) agreed to pay $90 million to settle a class action lawsuit by shareholders who accused the insurer of defrauding them by concealing that it lowered underwriting standards to boost growth.
August 18, 2023
Auto
Litigation
Underwriting
Predicting What Distribution, Underwriting and Claims Will Look Like in the 2030 Insurance Value Chain
In 2030, the world will look, feel and function in new ways. But how will the insurance value chain be affected by the new technology, ideas and regulations that will exist in seven years?
July 14, 2023
Insurance Industry
Technology
Underwriting
Predictive Model Anticipated Tropical Storm Bret’s Early Appearance
Tropical Storm Bret has formed in the central tropical Atlantic -- two months ahead of schedule for that part of the ocean. Fortunately, the technology and expertise were in place to anticipate this second named storm of the 2023 Atlantic hurricane season.
June 21, 2023
Risk Management
Technology
Underwriting
A Predict & Prevent Approach Works When Tech Innovation, Underwriting and Risk Management Work Together
Unlocking the full potential of Predict & Prevent strategies takes teamwork. We need insurers, tech innovators, policymakers, customers and others working together to create, test and launch solutions that stop losses in their tracks. It’s an exciting idea, but how do we make it happen?
May 30, 2023
Risk Management
Technology
Underwriting
