Latest InsurTech Headlines
All the headlines from our InsurTech Topic Page, ordered by recency.
Google Fights $17 Billion UK Lawsuit Over Ad-Tech Practices
May 10 2024 // Google parent Alphabet has urged a London tribunal to block a mass lawsuit which accuses it of abusing its dominance in the online advertising market, in the latest case to focus on the search giant’s business...
Tech Update: Aon Updates Its Pricing Platform to Enhance Underwriting Decisions
May 10 2024 // Insurance broker Aon plc announced an update to its Pricing Platform that aims to bring enhanced visualization and automation capabilities to re/insurance underwriters. The software update has also added new business lines...
Personal Auto Insurers Have Edge on Innovation: AM Best
May 10 2024 // After two years of challenges for personal auto insurers, rating agency AM Best delivered a positive assessment: U.S. personal auto insurers are the furthest ahead when it comes to innovation. Personal auto insurers’...
What Risks Do Advanced AI Models Pose in the Wrong Hands?
May 10 2024 // The Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China and Russia with preliminary plans to place guardrails around the most advanced AI models, Reuters reported on...
New York’s Putting Some Green— $5 Million— Into Green Energy Insurance Innovations
May 10 2024 // New York State’s $5 million Insurance Innovation Prize is now open for applications. Supported by the New York State Energy Research and Development Authority (NYSERDA), the new program offers awards for the...
Saudi Arabian Fintech Firm Rasan Plans to Sell 30% Stake in Riyadh IPO
May 8 2024 // Saudi Arabian fintech firm Rasan intends to sell a 30% stake in its Riyadh initial public offering, making it one of the first companies from the sector to go public in the kingdom. Rasan and its investors will offer 22.7...
Cyber Startup Wiz Raises $1B in Private Funds, Valued at $12B
May 8 2024 // U.S.-Israeli cloud cybersecurity startup Wiz said on Tuesday it raised $1 billion in a private funding round that values the four-year old company at $12 billion. Wiz, which has raised $1.9 billion since its founding in...
New Jersey to Launch Innovation Hub for Fintech and Insurtech Startups
May 8 2024 // New Jersey is creating a strategic innovation center for financial (fintech) and insurance (insurtech) technology startups in a partnership with Silicon Valley-based innovation platform Plug and Play. The new innovation...
Revolutionizing Insurance Distribution: Efficiency and Innovation through API Integration and Data Utilization
May 8 2024 // This post is part of a series sponsored by Dyad. In the dynamic landscape of insurance distribution, the convergence of efficiency and innovation is reshaping traditional workflows and elevating user experiences. Amidst...
Berkshire’s ‘Most Important’ Biz Drives Q1 Results; GEICO Still Behind on Tech
May 6 2024 // Berkshire Hathaway continued to deliver eye-popping results for its insurance and reinsurance operations during the first quarter of 2024, with underwriting profits for personal auto insurer GEICO and reinsurance...
Tech Update: Marsh McLennan Launches AI Solution to Manage Supply Chain Risks
May 3 2024 // Marsh McLennan, the insurance and reinsurance broker, has launched Sentrisk, an artificial intelligence-powered platform, which aims to help businesses manage global supply chain risk. Created through the combined...
Israeli Cyber Security Startup Apex Gets Initial Investment From OpenAI’s Altman
May 3 2024 // Israeli cyber security startup Apex, which focuses on protecting the rapid use of artificial intelligence (AI) tools, said on Thursday it received an undisclosed investment from OpenAI Chief Executive Sam Altman. In all,...
Neptune Flood Acquires Data Science Firm to Enhance Its AI-Driven Flood Insurance
May 2 2024 // Private flood insurer Neptune Flood reported it has acquired Charles River Data, a Boston-based data science consulting group. According to Neptune, the strategic move will bolster its underwriting system through advanced...
Police: Athletic Director Used AI to Frame Principal With Racist Remarks in Fake Audio
May 2 2024 // A high school athletic director in Maryland has been accused of using artificial intelligence to impersonate a principal on an audio recording that included racist and antisemitic comments, authorities said. Authorities...
Insurtechs Root, Lemonade Book Q1 Net Income Losses but Each Tout Progress
May 1 2024 // Insurtech Root Inc. posted a net loss for the first quarter 2024 of $6.2 million but said it recorded operating income for the first time in the company’s history. The net income loss for the first three months of...
Newspapers Sue OpenAI for Copyright Infringement Over AI Training
May 1 2024 // A group of newspapers, including the New York Daily News and Chicago Tribune, sued Microsoft and OpenAI in New York federal court on Tuesday, accusing them of misusing reporters’ work to train their generative...
Connecticut Weighs Wide-Ranging Bill to Regulate AI. But Its Fate Is Uncertain.
May 1 2024 // The Connecticut Senate recently pressed ahead with one of the first major legislative proposals in the U.S. to rein in bias in artificial intelligence decision-making and protect people from harm, including manufactured...
The Role of Artificial Intelligence Across the Property Insurance Ecosphere
Apr 25 2024 // This post is part of a series sponsored by CoreLogic. Over the last couple of years, Artificial Intelligence (AI) has changed how everyone lives, works, and plays. More than just a trend, AI is the ability of a machine,...
CEO Viewpoint: Unlocking the Potential of Generative AI in Insurance
Apr 24 2024 // Generative artificial intelligence (AI) has sparked a lot of interest from insurers and reinsurers because of its potential to revolutionize innovation, cut costs and improve the customer experience. Generative AI (or...
Massachusetts AG Warns AI Systems Subject to Consumer Protection, Anti-Bias Laws
Apr 19 2024 // Developers, suppliers, and users of artificial intelligence must comply with existing state consumer protection, anti-discrimination, and data privacy laws, the Massachusetts attorney general cautioned Tuesday. In an...
