Latest InsurTech Headlines
All the headlines from our InsurTech Topic Page, ordered by recency.
Insurers Face Business Interruption Claims After Global Tech Outage
Jul 22 2024 // Insurers could face a raft of business interruption claims after a worldwide tech outage crippled industries from travel to finance on Friday, insurance industry experts said. A software update by global cybersecurity firm...
What Disruptions Have Been Reported After the Global Tech Outage?
Jul 19 2024 // A global tech outage that appeared to be related to issues at cybersecurity firm CrowdStrike and Microsoft on Friday affected operations in sectors including airports, airlines, media and banks. Below is a list of...
Global Tech Outage Disrupts Industries, Highlights Online Risks
Jul 19 2024 // A worldwide tech outage crippled industries from travel to finance on Friday before services started coming back online after hours of disruption, highlighting the risks of a global shift towards digital, interconnected...
AI Chatbots, Gen AI Set to Revolutionize Insurance Claims Processing: Survey
Jul 15 2024 // A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher...
Tech Update: WTW Offers Next Generation Investment Management Insurance Solution
Jul 9 2024 // WTW, the advisory, broking, and solutions company, has introduced “IMI Plus,” an enhanced investment management insurance solution designed to meet the needs of all kinds of asset managers, including wealth...
OpenAI’s Internal AI Details Stolen in 2023 Breach, NYT Reports
Jul 5 2024 // A hacker gained access to the internal messaging systems at OpenAI last year and stole details about the design of the company’s artificial intelligence technologies, the New York Times reported on Thursday. The...
Insurers Fret Over Risk of Militant Attacks, AI Hacks at Paris Olympics
Jul 5 2024 // Insurers are nervous that militant attacks or AI-generated fake images could derail the Paris Olympics, risking event cancellations and millions of dollars in claims. Insurers faced losses after the 2020 Tokyo Olympics...
As AI Gains Workplace Foothold, States Try to Make Sure Workers Aren’t Left Behind
Jul 5 2024 // With many jobs expected to eventually rely on generative artificial intelligence, states are trying to help workers beef up their tech skills before they become outdated and get outfoxed by machines that are becoming...
AI and APIs: Essential Tools for Zurich Insurance Group’s Digital Leap
Jul 2 2024 // Executive Summary: For a multinational insurance company like Zurich Insurance Group, which can find itself delivering large, complex policies in multiple languages to a single international customer, there’s a...
Minimizing AI Cyberattacks
Jul 1 2024 // This post is part of a series sponsored by TSIB. We are seeing an explosion of technology as our devices become more powerful and less expensive. Companies are taking advantage of our voracious appetite for all things...
AI, Economy, Geopolitical Conflicts Lead to Highest Level of Corporate Risk in 12 Years: Report
Jul 1 2024 // Economic volatility, geopolitical upheaval and artificial intelligence (AI) have driven the corporate threat level to its highest in 12 years, according to Clyde & Co’s 2024 Corporate Risk Radar. The survey of...
Big Data, AI and the Rate-Making Revolution Can Mean Intellectual Property Trouble for Rating Organizations
Jul 1 2024 // The insurance industry has increasingly relied upon the use of big data to enhance its operations and core functionalities, and one way this trend has manifested is in the realms of property and casualty business, where...
Thanks to AI, Industry Could Soon See Big Rise in Parametric Insurance. Are Agents Ready?
Jul 1 2024 // Insurance agents must now embrace the use of artificial intelligence, but they won’t be replaced by it. And the use of parametric policies will soon increase sharply across property insurance lines because that...
German Insurtech Wefox to Replace CEO After Board Rejects Mubadala Sales Plan
Jun 27 2024 // Wefox Holding AG is replacing Chief Executive Officer Mark Hartigan after the German insurance tech startup’s board rejected a proposal by its largest stakeholder, Mubadala Investment Co., that he backed to sell the...
‘Great Resignation’ Enters Third Year as Workers Embrace AI, Upskilling, PwC Says
Jun 26 2024 // The proportion of workers who expect to switch employers in the next 12 months is higher than that from the “Great Resignation” period of 2022, a PwC survey of the global workforce found. Around 28% of more...
Music Labels Sue AI Companies Suno, Udio for Copyright Infringement
Jun 25 2024 // Major record labels Sony Music, Universal Music Group and Warner Records sued artificial intelligence companies Suno and Udio on Monday, accusing them of committing mass copyright infringement by using the labels’...
Facial Recognition Startup Clearview AI Settles Privacy Suit for $50M
Jun 24 2024 // CHICAGO (AP) — Facial recognition startup Clearview AI reached a settlement Friday in an Illinois lawsuit alleging its massive photographic collection of faces violated the subjects’ privacy rights, a deal that...
Risk & Insurance Education Alliance Wins Business Insurance 2024 Innovation Award
Jun 23 2024 // June 21, 2024 – The Risk & Insurance Education Alliance, formerly known as the National Alliance for Insurance Education & Research, is proud to announce it has been honored with a Business Insurance 2024...
New Drivers and Electric-Vehicle Tech Bring New Risks to Auto Insurance Market
Jun 21 2024 // High claim severities, persistent risky driving behavior, electric vehicles and shop-and-swap consumers are challenging auto insurers to stay profitable. The challenges will continue through the end of the year and beyond,...
AI Chatbots, Gen AI Set to Revolutionize Insurance Claims Processing: Survey
Jun 20 2024 // A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher...
