Now is the time for traditional insurance companies to embrace innovation

Venture Beast

Traditional insurance orgs need to seize this moment to leverage the power of their data and own the inevitable disruption of their sector. Read More.

Evolving Business Risk Drives Embrace of New Insurance Tech

Information Week

Rising business and cyber risks are driving innovation and technology adoption in the insurance industry

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Europe Predictions 2022: Insurance

Forrester Digital Transformation

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

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.

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.

EvolutionIQ unveils its AI-driven tech to reduce the cost of insurance claims

Venture Beast

EvolutionIQ has developed what it calls the first human-in-the-loop, artificial intelligence for insurance claims guidance. Business ai funding insurance insurance claims Insurance tech

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.

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

Cyber Insurance Prices Continue to Rise

SecureWorld News

Cyber insurance is a topic that many industry professionals have an opinion on. No matter what side of the debate you land on, one thing is certain: the cost of cyber insurance has been rising for years and will likely continue to do so. cyber insurance rate changes.

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

Cowbell raises $100M to offer organizations continuous cyber insurance

Venture Beast

Continuous cyber insurance provides enterprises with a solution that can decrease the amount they spend on remediating cyber threats. Read More.

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

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.

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?

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

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.

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

How AI accelerates insurance claims processing

Venture Beast

Insurance companies have to conduct damage assessments and figure out the most efficient and lea… Read More. AI Business Data technology Transportation ai category-/Business & Industrial data analytics insurance

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.

Who’s Responsible For Cyber Insurance Policy Misrepresentations? It Depends.

Forrester Digital Transformation

On July 6, 2022, The Travelers Property Casualty Company of America (Travelers Insurance) filed a suit in Illinois Federal Court against International Control Services, Inc (ICS) asking for policy rescission and declaratory judgment against ICS. insurance industry trends risk management

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

Cyber Insurance's Battle With Cyberwarfare: An IW Special Report

Information Week

Cyber insurers are rejecting claims for damages caused by acts of cyberwar, which begs the question: what is "cyberwar"? As Russian-Ukrainian conflict reaches a fever pitch, CIOs and CISOs need an answer

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.

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

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 […].

Cyber Insurance: What The Changing Power Dynamics Mean For You

Forrester Digital Transformation

Cyber insurance is only one component of a bigger enterprise cybersecurity risk management program. However, the cyber insurance market has been on a roller coaster, with skyrocketing premiums, changes in coverage, and a demand for policies that outweighs available supply.

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

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.

U.S. Insurers Wasted Millions on Ivermectin for Covid-19, Study Finds

GizModo VR

Researchers analyzing insurance claims data estimate that U.S. insurers have paid tens of millions of dollars for ivermectin as a covid-19 treatment, despite little good evidence that ivermectin does anything to treat or prevent the viral illness.

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.

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.

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.

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

Security Think Tank: Six key factors in cyber insurance

Computer Weekly

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

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

What to consider when shopping for cyber insurance

Tech Republic Security

Cyber insurance is gaining favor in the business world. An expert offers tips on how to get what's needed for the best price

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.

Insurance industry being ravaged by high rate of cyberattacks

Tech Republic Security

The post Insurance industry being ravaged by high rate of cyberattacks appeared first on TechRepublic. A new report from Black Kite shows the entire sector may be ripe for ransomware attacks. Security

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.

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

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% […].