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Parametric insurance products are often best incorporated into a policyholder’s insurance product portfolio as a coverage add-on to a traditional policy rather than the base cover itself.
From the rise of embedded insurance products to record-breaking InsurTech financing, 2021 was a remarkable year for the global insurance industry.
Allianz SE has announced an agreement with London-based insurtech Cytora that will see the former integrate AI-based digital risk processing solutions into its commercial insurance business.
The emergence of next-generation technology solutions such as artificial intelligence, machine learning, predictive analytics, cloud and edge computing is causing a seismic shift in the insurance market – disrupting the outdated, typically protection policy-focused model.
Advancements in this breakthrough technology are spurring innovation across the insurance industry, including coverage for crops, flights and travel delays, shipping and live events.
Zurich Insurance Group agreed to acquire Estonia-based company AlphaChat, which provides conversational artificial intelligence (AI) technology for customer service automation, to further enhance the group’s digital capabilities.
There are some negative phenomena that are foreseen for the following year, which are part of the ravages that this pandemic has left.
Steep rise in revenue comes on heels of new patents & multiple awards recognizing company’s AI-powered benefits guidance platform.
Coalition, the world’s largest commercial insurtech provider, today announced it will launch a new captive to begin taking risk on its cyber insurance programs. With this captive, Coalition will enhance its ability to manage capacity and its long-term growth objectives while further aligning incentives with its customers.
Insurers have offered some level of digital capabilities for sales and service for years, but customers’ and distributors’ adoption has been slow.
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