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Artificial intelligence is changing how the insurance industry operates and use cases for AI are skyrocketing. Today, AI is being used to provide customer service, assess risk profiles, to determine pricing, detect fraud and more. As technologies evolve and the industry’s use of AI becomes more mature, the opportunities for using AI in the future appear virtually limitless.
AXA Commercial has announced the official launch of its electric vehicle proposition for motor fleet customers, offering a greener fleet option to businesses.
Lemonade has announced the expansion of its pet insurance to Massachusetts. The coverage is available for dogs and cats and includes diagnostic, procedural and other medical needs.
Beazley announced that its global digital commerce division, Beazley Digital, is up and running. New hub brings together underwriting, claims, technology and operations experts into a cross-functional team, to provide seamless digital access and services to a range of high-volume, low-premium products for its partners global brokerage.
Evertas, the first such “coverholder” to specialize in crypto wallets, was sponsored by Lloyd’s syndicate member Arch Insurance.
Coalition now offering Directors & Officers (D&O) and Employment Practices Liability (EPL) with new tools and features to all broker partners, furthering its breadth of offerings to protect businesses against modern risks.
Luko and Akur8 have announced a collaboration to strengthen Luko’s pricing process. By forging this alliance with the first French neo-insurance company, Akur8 affirms its solid position in its domestic market and consolidates its position within the insurtech ecosystem in France and internationally.
Cyber insurance and security solutions provider Resilience has launched a captive reinsurance company. The captive will allow the agent to retain a share in the risks it underwrites, fuelling additional growth and “demonstrating its long-term commitment to underwriting a profitable and sustainable book on a global scale”, it said.
Binance Holdings Ltd. has built up a $1 billion insurance fund for its users amid a barrage of hacks on cryptocurrency trading platforms, according to a memo.
Audi has partnered with connected car data company Otonomo to pilot consumer offerings, ranging from pay-as-you-drive insurance, to general vehicle status, to first notification of loss.
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