Technology
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Smart Contracts in Insurance
Smart contracts will likely be used first for simpler insurance processes like underwriting and payouts, then scale as technology and the law allow.
Billionaire Investors Mark Cuban and Chamath Palihapitiya are Challenging Warren Buffett in Car Insurance
The pair are among the investors plowing a total of $160 million into Metromile, which offers pay-per-mile car insurance and tailored pricing to drivers. The startup relies on a device that subscribers install in their vehicles, which tracks their mileage and reports other data with their permission
Destination AI: Augmented Automated Underwriting and Life Insurance
It’s almost inevitable. Spend your working life identifying, analysing, quantifying and ascribing monetary value to risk, and you’re likely to have a fairly strong aversion to it. Or more accurately, an aversion to undertaking new endeavours with inadequately understood consequences. The insurance industry is, on any number of levels, the very definition of risk-averse
Aon & HSCM to Offer Cyber Coverage
Global insurance and reinsurance broker Aon has collaborated with Hudson Structured Capital Management (HSCM) on the launch of a new product designed to protect re/insurers against systemic and catastrophic cyber events.
5G: Revolution or Exaggeration?
The race to fifth-generation (5G) wireless technology is on, with governments around the globe scrambling to support it. If they don’t, many industry experts believe, they risk losing out on the futuristic opportunities that 5G could make possible, from self-driving cars to smart cities that can point vehicles to the clearest roads. These advances also promise significant economic incentives: A 2019 study from IHS Markit predicts that by 2035, 5G will create 22 million jobs and generate $3.5 trillion in economic activity globally
4 Initiatives That Unlock IoT’s Value
Technology promises to free agents to spend more time with clients and prospects, broadening and deepening relationships
Powerful Cloud Services will Drive Ecosystem Innovation
Carriers that recognize and make use of the innovation capabilities that cloud services offer will outpace their competitors in the race to build expansive ecosystems. With enhanced agility and reach, they will seize many of the lucrative opportunities likely to spawned by ecosystems in the next few years.
Man vs. machine? How Automated Machine Learning will Evolve Actuaries
Gort. The Terminator. Wall-E. HAL 9000 …and AutoML? Popular images of artificial intelligence can terrify, inspire, and amuse us – but the real thing, AutoML (automated machine learning or AML), often just confounds us.
AXA XL and Xtract Partner to Digitize Commercial Auto Claims
AXA XL‘s insurance business has entered into a multiyear partnership and licensing agreement with Xtract to digitize, expedite and transform the commercial auto claims management process in the US.
Technology Takes a Front Seat in Claims Handling
The COVID-19 outbreak has changed, among other things, the way we work, travel, and socialise; in the world of insurance, one aspect that has been
The Evolution of Telematics Programs
Interest in pay-as-you-drive or pay-per-mile policies has increased in 2020 as more Americans are working from home. Thirteen years after Progressive launched Snapshot, its usage-based
5 indemnity Technology Trends Transforming the Industry in 2020
Technology is taking over the insurance industry like any other industry. Advanced insurance technology now centres the industry to benefit both carriers and insureds. Seeking
The Estonian Startup Saving Car Insurance Companies Billions
Estonian startup DriveX could save car insurance companies billions. Insurance may not be the most glamorous of industries, but it can be lucrative, especially for
Tesla Insurance Could Potentially be America’s Biggest Auto Insurer
Tesla Insurance – the auto insurance offshoot of Tesla Inc. – could become one of the largest auto insurers in America, if the unit’s valuation
Experts Say Tesla’s Unique Data-Tracking Abilities Give it an Advantage as Elon Musk Looks to Build a ‘Major Insurance Company’ for Tesla Owners
Elon Musk has made a name for himself as a data-savvy innovator, and he’s seeking to further that label with an ambitious goal: scaling up
Nippon Life to Launch Chatbot Training for Agents
Sensely, a chatbot platform, is working with Nippon Life Insurance to launch an avatar-based sales rep training program to enhance and extend sales using voice-driven
Munich Re Automation Solutions to Invest €16mn in R&D Program
Dublin-based Munich Re Automation Solutions, a subsidiary of the global reinsurer, is set to invest roughly €16 million in a research & development program and
PCS Launches New Data Set for Cyber Risk
Property Claim Services (PCS), a Verisk Analytics business, has announced the launch of a new data set to help cyber insurers and reinsurers optimise their
The Next Revolution in Telematics: An Insurer Partners with an Automaker to Collect Data
An American auto insurer has partnered directly with a car manufacturer to get access to driver data and provide insurance coverage based on that information
Here’s How Google, Amazon, Facebook and Apple are Targeting the Health Insurance Market
Tech giants are ramping up their investments in digital health initiatives, signaling some significant moves to target the health insurance space. Google, Facebook, Apple and
It’s Time for Insurers to Conquer their Cloud Fears
Insurers should be accelerating into the cloud after the upheavals caused by the COVID-19 pandemic. Instead, many are stalling. Seven big myths are blocking their
Clover Health Is Near a $3.7 Billion Deal to Be Bought
The health care company, in talks with an affiliate of the billionaire Chamath Palihapitiya, hopes to use the money to fuel growth and achieve profitability.
Bright Health Lands $500M to Expand Into Employer-Based Insurance; PicnicHealth Scores $25M
Health tech funding snapshot—Bright Health lands $500M to expand into employer-based insurance; PicnicHealth scores $25M PicnicHealth was founded to help patients with chronic or complex
KPMG and Unqork Collaborate to Deliver No-Code Solutions for Organizational Change
The expanded partnership combines Unqork’s enterprise no-code leadership with KPMG’s deep industry knowledge to expedite digitization in highly regulated industries. Unqork (New York), provider of
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