Trending InsurTech Headlines
The most viewed headlines from our InsurTech Topic Page over the last 30 days.
#1 ‘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...
#2 Thanks to AI, Industry Will Soon See Big Jump in Parametric Insurance, Consultant Says
Jun 18 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...
#3 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,...
#4 Mubadala Proposal to Sell Insurtech Startup Wefox Opposed by Founders
Jun 14 2024 // Mubadala Investment Co. has proposed selling troubled insurance tech startup Wefox Holding AG to UK insurance broker Ardonagh Group Ltd. in a deal opposed by the German firm’s founders. The Abu Dhabi sovereign wealth...
#5 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...
#6 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...
#7 Viewpoint: Why Insurers Should Have Confidence in Machine Learning Capability
Jun 12 2024 // Executive Summary: While insurance leaders plan to use machine learning capability in their pricing and underwriting processes, only a small proportion actually have embraced the technology. They need to take the next step...
#8 EV Startup Fisker Files for Bankruptcy, Aims to Sell Assets
Jun 18 2024 // Fisker filed for bankruptcy protection late on Monday, as the U.S. electric-vehicle maker looks to salvage its operations by selling assets and restructuring its debt after burning through cash in an attempt to ramp up...
#9 A New Approach: Florida Agents’ Association Makes Big Investment in Startup Insurer
Jun 3 2024 // The Florida Association of Insurance Agents, the largest agent group in the state, this spring took the unprecedented step of investing in a startup insurance carrier, a move designed to help keep agents in the game and...
#10 SEC Charges AI-Based Startup With ‘Old School Fraud Using New School Buzzwords’
Jun 14 2024 // The Securities and Exchange Commission (SEC) this week charged Ilit Raz, CEO and founder of the failed artificial intelligence recruitment startup Joonko, with defrauding investors of at least $21 million. According to the...
#11 Survey: US Business Owners Seek More Insurance Coverage as AI, Election Risks Loom
Jun 13 2024 // Artificial intelligence and U.S. election have emerged as significant risks to businesses this year with an overwhelming 80% of owners worried their insurance will not cover a specific loss, a survey by insurance brokerage...
#12 Growing Reliance on Big Tech for AI Carries New Risks, Banks Say
Jun 7 2024 // The boom in artificial intelligence will increase banks’ dependence on big U.S. tech firms, creating new risks for the industry, European banking executives said. Excitement around using artificial intelligence (AI)...
#13 Where the AI Risks Are: Swiss Re’s Top 10 Ranking by Industry
Jun 17 2024 // The insurance industry came in sixth in a ranking of 10 major industries based on current AI risk, and seventh based on future risk, with healthcare replacing IT as the most exposed sector in the next 10 years. The...
#14 Tech Update: USI’s Tech-Enabled Risk Control Platform; Baldwin Group Starts API-Connected Cyber Placements; AI-Based Workers Comp Fraud Detection at CLARA
Jun 6 2024 // USI Insurance Services (USI) announced the launch of PATH (patent pending), a proprietary technology-enabled risk control platform for clients. The new platform leverages industry-specific benchmark data to generate...
#15 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...
#16 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’...
#17 Exploring AI: Fascination with AI, Not Fear Will Drive Success for Independent Agents
Jun 3 2024 // I remember watching Michael Crighton’s “Westworld” in 1973. Two vivid impressions from that experience remain. The first was my date breaking my glasses when she screamed and threw her arms open during a...
#18 10 Things You Could Be Spending Money On Instead of Maintaining Legacy Insurance Technology
Jun 11 2024 // This post is part of a series sponsored by AgentSync. The cost of legacy technology In 2023, companies in the financial services industry spent an average of 15 percent of their revenue on technology. Not only is that up...
#19 Markets/Coverages: Sompo Offers Tech Insurance Cover for UK Middle Market Clients
Jun 5 2024 // Sompo announced the launch of a new technology insurance product for middle market clients in the United Kingdom. The package includes coverages comprising property, casualty, professional indemnity (PI) and cyber. Excess...
#20 National Alliance for Insurance Education & Research Partners with BrokerTech Ventures to Launch a Foundational Insurance for Insurtech Professionals Course
Jun 3 2024 // Austin, TX., June 3, 2024 – In an innovative move to bridge the knowledge gap in the rapidly evolving insurance/insurtech landscape, The National Alliance for Insurance Education & Research has partnered with...
