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 Berlin-based omni:us came from the commission’s European Innovation Council (EIC) …
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 innovation hub of Banco Sabadell), and other …
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 activities. “Nothing compares to an actual human being helping out …
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 driven by streamlined underwriting processes, …
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 explore, providing opportunities to drastically …
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 2019. To be competitive, …
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 tell the difference between …
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 expanded partnerships with insurance carriers Everest Insurance, …
Two artificial intelligence providers — omni:us and FRISS — are teaming up to “supercharge” insurance claims management and fraud detection. omni:us is a provider of AI-based cognitive claims management service, while FRISS is a provider of AI-powered fraud and risk …
VOOM, the Tel Aviv-based on-demand, telematics-based insurance platform for drones and other specialized mobility services such as e-scooters, announced it has closed a $5 million Series A funding round. The round was led by Arbor Ventures with participation from returning …
