Latest Data Driven Headlines
All the headlines from our Data Driven Topic Page, ordered by recency.
AI Specialist omni:us Awarded €1.6M from EU to Enhance AI-Powered Claims Platform
Sep 26 2019 // Artificial intelligence provider, omni:us has been awarded €1.6 million ($1.8 million) from the European Commission* to help it further develop its machine learning powered insurance claims platform. The grant to...
California Commissioner: Data Shows ‘Disturbing’ Disparities in Auto Insurance Discounts
Sep 24 2019 // The California Department of Insurance on Tuesday released data from an investigation showing what the CDI is calling “wide socioeconomic disparities” in auto insurance group discounts offered to millions of...
The Lowdown: Reimagining Research to Recognize Emerging Insurance Industry Trends
Sep 19 2019 // The Society of Insurance Research (SIR) will hold their 49th Annual Conference on October 20th – 22nd at the Sheraton Charlotte Hotel in Charlotte, NC and I am thrilled to be attending. The theme for this year’s...
Cyber Risk Modeling Company Kovrr Raises $5.5 Million
Sep 12 2019 // Kovrr, a Tel Aviv-based predictive cyber risk modeling company, announced a $5.5 Million financing round. The funding round was led by StageOne Ventures, Mundi Ventures and Innocells (the corporate venture arm and digital...
Tesla Insurance Will Use Driver Video, GPS Data Subject to States’ Approval
Sep 6 2019 // Tesla Inc.’s use of individual customer data, such as vehicle camera footage and GPS, to price its new insurance products will depend on drivers’ authorization and individual U.S. state laws, a senior company...
Crying Robots Aside, Insurance Industry Shouldn’t Fear Artificial Intelligence: Viewpoint
Aug 22 2019 // In a viral State Farm commercial, Oscar Nunez, playing the role of a friendly, helpful insurance agent, disparages any insurance company that utilizes artificial intelligence in support of customer service...
AI-Underwritten Insurance Premiums to Go From $1.3B to $20B Globally by 2024: Juniper
Aug 19 2019 // The value of global insurance premiums underwritten by artificial intelligence will exceed $20 billion by 2024, up from an estimated $1.3 billion in 2019, according to new data from Juniper Research. This growth will be...
With Smarter, Joined-Up Pricing, There’s No Such Thing as a Bad Risk: Viewpoint
Aug 14 2019 // It’s a well-trodden truth in our industry that not all risks are created equal, and for insurers, that some risks are riskier than others. However, new technologies mean new avenues of innovation for insurers to...
How AI Advances ‘No-Touch’ Resolution of Workers Compensation Claims: Opinion
Aug 8 2019 // Many human hours are needed to sort, analyze and process workers compensation claims—the vast majority of which are low in value. The U.S. workers comp insurance market is forecast to earn revenues of $55 billion in...
Delaware Insurance Data Security Act Signed into Law
Aug 6 2019 // Delaware Governor John Carney signed House Bill 174, titled the Delaware Insurance Data Security Act, into law on Wednesday, July 31, 2019. This law is based on an NAIC Model Act, which establishes a comprehensive...
Artificial Intelligence Helps to Contain Wildfires, Predict Wild Weather
Aug 5 2019 // On a tower in the Brazilian rainforest, a sentinel scans the horizon for the first signs of fire. Only these eyes aren’t human. They don’t blink or take breaks, and guided by artificial intelligence they can...
Nebraska Insurer, Ameritas: Data Breach Possibly Exposed Customers’ Info
Aug 1 2019 // Lincoln, Nebraska-based insurance and finance company Ameritas has notified customers that their personal information may have been exposed in a data breach. The Lincoln Journal Star reports that the company said in a...
A Year after GDPR, How Can U.S. Insurers Prepare for Data Privacy Regs Closer to Home?
Jul 30 2019 // More than a year after the European Union implemented its General Data Protection Regulation (GDPR), U.S. insurers are examining what they can learn as they prepare for the implementation of similar data privacy laws in...
Data-Deprived Auto Insurers Cautious About Discounts for Advanced Safety Features
Jul 26 2019 // Automakers are accelerating the rollout of technology designed to avoid crashes, but insurance companies are waving a caution flag at consumers eyeing discounts for buying collision-avoiding brakes or automated cruise...
Largest U.S. Data Breach Settlements with Government Include 3 Insurers
Jul 23 2019 // The U.S. Federal Trade Commission announced on Monday that Equifax Inc. will pay up to $700 million for a data breach that exposed millions of consumers’ personal information. The following are seven of the largest...
Insurance AI Firm RiskGenius Reports Additional Financing
Jul 17 2019 // RiskGenius, which provides natural language tools for improving the quality and accuracy of insurance policies, has completed a Series B financing led by Hudson Structured Capital Management. The company said it has also...
By Taming Big Data with AI, Cytora Aims to Transform Commercial Underwriting
Jul 17 2019 // It is an insurtech startup operating an artificial intelligence-powered platform that aims to transform commercial insurance underwriting. While the goal may seem ambitious, Cytora is making significant inroads toward...
SkyWatch.AI Launches On-Demand Drone Insurance in UK, Underwritten by Chaucer
Jul 15 2019 // SkyWatch.AI, the on-demand, telematics-based insurance platform, has launched in the United Kingdom following last year’s launch in the United States. SkyWatch.AI’s UK policies will be underwritten by specialty...
Insurtech Firms Continue to Grapple With Data Ownership
Jul 15 2019 // Insurers need to learn to share their data if they want to take full advantage of the mountain of information generated from connected devices, insurtech executives say. Along the way, somebody’s got to figure out...
The Potential of Artificial Intelligence
Jul 15 2019 // In a viral State Farm commercial, Oscar Nunez, playing the role of a friendly, helpful insurance agent, disparages any insurance company that utilizes artificial intelligence in support of customer service...
