How AI regulation is developing in the insurance industry

Venture Beast

Some important takeaways from the National Association of Insurance Commissioners meeting in San Diego this week. AI Uncategorized VB Home Page AI regulation category-/Business & Industrial Insurance tech

Insurance verification startup TrustLayer lands $15.1M

Venture Beast

TrustLayer, a startup developing AI and automation technologies to quickly verify insurance, has raised $15.1 million in capital. Read More.

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Connected Insurance: Reality Or Hype?

Forrester - Business Intelligence

I speak often with clients about the role of technology in insurance. Of the many innovations we discuss, connected insurance may be the most polarizing. Connected insurance (CI) is nascent across most insurance lines.

Consumers question AI-driven insurance claims review

Venture Beast

According to a survey by Policygenius, consumers are reluctant to trust black-box AI systems that make insurance policy decisions. AI Big Data Cloud Data Enterprise Transportation VB Home Page ai artificial intelligence insurance machine learning policy Report Survey

Data Science Fails: Building AI You Can Trust

The new DataRobot whitepaper, Data Science Fails: Building AI You Can Trust, outlines eight important lessons that organizations must understand to follow best data science practices and ensure that AI is being implemented successfully.

Autonomous car insurance drives new opportunities

Venture Beast

Startups are emerging to take on the challenge of insuring autonomous cars, which pose new liability questions. Read More.

Science, applied: 3 ways AI and ML are advancing the insurance industry

Venture Beast

Insurance companies are implementing applications of data science to detect fraud and provide a personalized customer experience. AI VB Home Page artificial intelligence category-/Finance/Insurance insurance insurance industry machine learning

Cybersecurity insurance provider Coalition nabs $205M

Venture Beast

Coalition, a startup offering cyber insurance alongside cybersecurity tools, has raised $205 million at a $3.5 billion valuation. Read More.

The Cyber Insurance Market in Flux

Information Week

With cyber-attacks on the rise, cyber insurance is becoming a necessity for many organizations. But costs are skyrocketing, and claims are being denied

Why to Rethink Liability Insurance for IT

Information Week

For years, companies have protected themselves with general liability insurance. But with the new range of cyber threats, IT has become part of the liability discussion

Four Themes Will Shape The Future Of Insurance

Forrester - Business Intelligence

The future of insurance is here. Insurers can no longer wait on the sidelines. The game for who wins the hearts and wallets of tomorrow’s insurance customer. That’s my view and I am sticking to it. You must get in the game. What game you ask?

10 cyber insurance selling points

CTOvision

Read Elana Ashanti Jefferson list top ten reasons why companies, small and big, should buy cyber insurance on Property Casualty 360 : In a move that reflects the growing urgency for companies, organizations and institutions worldwide to proactively face down and mitigate cybercrime, Beazley, a longtime cyber insurance market leader, announced recently that it has […].

What You Need to Know About Ransomware Insurance

Information Week

Ransomware insurance can limit the immediate and long-term financial damage Ransomware can bring business operations to an instant halt.

Insurers are joining fintech party

Computer Weekly

Insurers are held back from digital transformation by legacy systems, but insurance-focused IT startups offer them hope

Influential National Association of Insurance Commissioners (NAIC) Moves On Cyber

CTOvision

Cybersecurity practitioners and policymakers have long been discussing the potential positive benefits of smart insurance policy and standards to reduce risk. Of the many actions and activities we see in the insurance world today, the news of NAIC involvement is seen as particularly interesting. The National Association of Insurance Commissioners (NAIC) is the U.S. NAIC members form the national system of state-based insurance regulation in the U.S. By Bob Gourley.

Cyber insurance firm Resilience raises $80M to aid battle against ransomware

Venture Beast

Resilience says it offers more than just cyber insurance, with training and tools to help policy holders to defend against ransomware. Read More.

Tractable uses computer vision to accelerate insurance claims

Venture Beast

Tractable's AI performs a real-time analysis that helps insurance companies quickly decide whether a car can be fixed. AI Big Data Cloud Dev Enterprise Mobile VB Home Page category-/Business & Industrial computer vision funding daily insurance insurtech Tractable

Zelros raises $11 million for AI that personalizes insurance plans

Venture Beast

Zelros raised $11 million for natural language understanding technology to help policyholders choose the optimum insurance plans. Read More.

Europe Predictions 2022: Insurance

Forrester's Customer Insights

Find out what Forrester predicts for insurance companies in 2022 and beyond. Europe financial services Insurance insurance industry trends predictions

Technology is Reinventing the Insurance Industry

GizModo VR

When most people think about insurance companies, they don’t immediately think of tech. insurance ust sears holdings vehicle insurance companies sudesh kannan allstate rosa go media studios technology internet meg walters rosa escandon analytics articles kokila nagaraj companies

Global Firms Under-Insured Despite Breach Concerns

CTOvision

Half of global organizations still don’t have cyber insurance, despite the majority believing cyber-attacks will increase next year, according to FireEye. The security vendor polled 800 CISOs and senior executives across the globe to compile its new Cyber Trendscape Report. More than half (56%) said they believe the risk of attacks will grow next year and 51% […].

Cyber Insurance Premiums Suddenly Surging

SecureWorld News

New research reveals that a record number of organizations are buying cyber insurance policies as a tool for protecting themselves against cyber risk. However, the cost for those policies is rising dramatically as cyber insurance premiums soar up to 30% vs. the previous year.

A Cyberattack Allegedly Knocked Insurance Giant CNA Offline

GizModo VR

CNA Financial, one of the largest insurance providers in the U.S., cyberattack insurance cyberwarfare cybercrime data security cna financial corporation cyber insurance internet security computer security ransomware joshua motta cna financial technology internet

What Do CIOs Need To Know About Cyber Insurance?

The Accidental Successful CIO

You are not generally called on to deal with other business related issues such as insurance. However, with the rash of ransomware attacks and denial-of-service attacks that have been happening, CIOs are now being asked to help out when the company goes shopping for cyber insurance.

Life insurance provider Ethos acquires digital wills and estate-planning startup Tomorrow

GeekWire

Tomorrow , a Seattle startup that helps people set up digital legal wills and trusts, has been acquired by life insurance provider Ethos , the companies announced Thursday. The company issued $13 billion in life insurance coverage last year and was valued at $2.7

Descartes Underwriting raises $18.5 million for its data-driven insurance platform

Venture Beast

Descartes Underwriting, a startup applying AI and machine learning technologies to insurance underwriting, has raised $18.5 million. Read More.

Cyber Insecurity: A Boon for Insurers

CTOvision

Do you have good cyber insurance? An explosion in perceived cyber threats will lead to an explosion of attention to managing cyber risk, and that attention means booming business for cyber insurers. Randy Milanoff , a lawyer for insurance provider White & Williams, compares the Target data breach to ten Super Bowl advertisement for cyber insurers. By ShannonPerry. We’ve written plenty about data breaches.

Insurance banana skins

IT Toolbox

When the insurance industry gets seriously worried about something, it means that seriously big money is involved

How Data Science Helps Insurance Companies Manage Losses and Protect Customers

Dataconomy

Big data, specifically with the help of artificial intelligence (AI), empowers insurance companies to make better financial decisions. The result is higher profits for insurance companies and lower premiums.

Robots replace staff at Japanese insurance firm

Computer Weekly

Japanese insurance company Fukoku Mutual Life Insurance replaces 34 members of its claims assessment team with IBM Watson

Axa offers on-demand insurance via mobile app

Computer Weekly

Insurance company launches app that offers quick and easy insurance cover for individual items owned by customers

Predictions 2021: Insurers Find Opportunity Amid Chaos

Forrester's Customer Insights

As insurers contend with an unpredictable virus and its economic consequences, promising pathways to prosperity will reveal themselves. Age of the Customer Insurance prediction

Why cybersecurity insurance may be worth the cost

Tech Republic Security

Cybersecurity insurance can compensate you in the event of a cyberattack. But how do you determine the right policy for your needs

Security Think Tank: Six key factors in cyber insurance

Computer Weekly

What should organisations consider if they are to prepare for cyber insurance

Flock CEO on data strategy behind commercial drone insurance

Venture Beast

Flock CEO on how data analysis makes it possible to offer better prices for insurance on drone flights and van fleets. Read More.

Planck raises $16 million to underwrite commercial insurance risk

Venture Beast

Planck, a startup leveraging AI and machine learning to underwrite commercial insurance risk, raised $16 million in venture capital. Read More.

Lemonade’s Acquisition of Metromile: Start Your Engines! The Race For Digital Insurance Supremacy Just Took A New Turn

Forrester - Business Intelligence

Last week Lemonade revealed Lemonade Car, its entry into auto insurance. This week, it announced the acquisition of Metromile, one of the largest usage-based auto insurers in the world. Talk about timing.

The Cyber Insurance Roller Coaster: As Demand Speeds Up, Some Insurers Disembark

Forrester's Customer Insights

Age of the Customer Cybersecurity Cybersecurity Trends insurance industry trends MSSP Ransomware risk managementThe first half of 2021 has been anything but quiet for cyberinsurance!

Malaysian insurer partners IT supplier to tailor cyber security policies

Computer Weekly

Partnership is in response to requests from AIG customers for a more comprehensive risk management approach to cyber insurance

Here's one way to apply for life insurance online

Mashable VR

2, get a free quote for Bestow Life Insurance and sign up for a plan as low as $16 per month. That’s why life insurance exists, and it’s never a bad time to get coverage. The thought of buying life insurance can feel daunting, and it may seem like it'll take a ton of time and money. But with Bestow , a startup that offers term life insurance, you can get started in minutes and get covered from the comfort of your home, for as low as 16 bucks a month.

Security Think Tank: Lower insurance premiums through security certification

Computer Weekly

What should organisations consider if they are to prepare for cyber insurance

The Insurance Industry and Big Data

Eric D. Brown

How would you feel if you got a letter in the mail from your insurance company telling you that your insurance rates have increased due to your social media activity? How would you feel about getting a letter from your insurance company telling you your rates have decreased due to your social media activity falling into line with other ‘safety’ conscious customers? Big data has given insurance companies the ability to mine social media for all sorts of activities.

Insurer launches UK’s first driverless car policy

Computer Weekly

Specialist motor insurance provider Adrian Flux introduces new contract terms for a driverless car insurance policy