Industry News

Ageas partners with Saga to enhance insurance offerings for UK over 50s market

Ageas partners with Saga to enhance insurance offerings for UK over 50s market

Ageas has finalised exclusive negotiations with Saga, a UK-based specialist provider of products and services for individuals aged over 50. This development follows the initial announcement made on 11 October 2024.
Novidea expands in the London Market with new headquarters to drive growth

Novidea expands in the London Market with new headquarters to drive growth

Novidea, a leading InsurTech firm known for its cloud-based, data-driven insurance enterprise management platform, has bolstered its presence in the London Market by relocating to a larger office space in the heart of the City of London.
Akur8 and CAS advance actuarial science with groundbreaking lasso credibility monograph

Akur8 and CAS advance actuarial science with groundbreaking lasso credibility monograph

The Casualty Actuarial Society (CAS) has recently published an insightful new monograph entitled "Penalized Regression and Lasso Credibility."
Previsico expands AI flood forecasting to Ireland, enhancing insurer resilience to climate change

Previsico expands AI flood forecasting to Ireland, enhancing insurer resilience to climate change

Previsico has unveiled its innovative live flood forecasting service in the Republic of Ireland.
Root Inc refinances $200m term loan facility with BlackRock to boost financial flexibility

Root Inc refinances $200m term loan facility with BlackRock to boost financial flexibility

Root, the Columbus, Ohio-based parent company of Root Insurance Company, has announced a successful refinancing of its term loan facility. The capital was supplied by...

Applied Underwriters takes on the space insurance market with new leadership

Applied Underwriters Aerospace, a division of Applied Underwriters, is making a strategic move to expand its footprint in the space insurance market.Applied Underwriters Aerospace, a division of Applied Underwriters, is making a strategic move to expand its footprint in the space insurance market.
Nasdaq

Nasdaq’s AI integration streamlines risk management for banks and insurers

Nasdaq has unveiled an machine learning methodology designed to revolutionize risk calculations and predictive analytics in the financial industry.

Kalepa’s AI copilot set to propel Bishop Street underwriters into future of InsurTech

Bishop Street Underwriters, owned by RedBird Capital Partners, collaborates with InsurTech pioneer Kalepa to leverage innovative AI technologies for enhancing underwriting decisions.
Responding to governance events, like audits, investigations and e-discovery, in the era of unified communications and collaboration (UCC) is hard. IT stakeholders, such as those responsible for compliance archive storage and architecture, responding to search requests from compliance and legal, are overwhelmed by the volume and complexity of today’s modern communications and by the constraints of heritage archiving investments. Unfortunately for those involved, both on the IT and compliance/legal side, search and discovery might consist of a “best guess” effort making it challenging to identify risk or wrongdoing, form a judgment on the merits of a case and at its worse, suffer fines, sanctions, negative verdicts and damage to the organization’s brand and reputation. The volume of communications for today’s organizations come in the form of textual communications like email, chat, SMS, documents, voice communications and even visual communications like whiteboards or video. In a large organization, with thousands of employees working across multiple communications platforms, content growth can be exponential. UCC content is also complex. Textual content like chat and email can be embedded with emojis, reactions, images, memes, file attachments and more. All of this needs to be searched and analyzed for potential risk and signals of intent during a digital conversation as rogue users can look to obfuscate their communications behind these tools. Users today often context switch between multiple applications during a conversation. What starts out as a virtual meeting can segue to SMS, a phone call, an email or other forms of communication. In addition, chat conversations can be persistent and take place over days, weeks, months, even years, making it very difficult to encapsulate conversation patterns, relationships, intent and more. Finally, adding to the complexity level, UCC platforms are increasingly meshed, meaning they provide the ability to switch to a different modality (voice, video, etc.) or even a different platform for doing so. How can compliance IT teams keep up? Legacy approaches to managing regulated data - such as email and voice archives - are struggling to adapt to today’s modern communication requirements. These archive systems can serve as containers for regulated information to be safeguarded and locked away, but with enormous and numerous trade offs. These include redundant costs, loss of productivity, and increasing complexity, as they grapple to meet the constant evolution of changing UCC platforms and their continual improvements and feature additions. Responding to governance events can also mean that compliance IT stakeholders must pivot between these archive silos, conducting multiple search attempts and results and manually assembling a case or data investigation set. In addition, legacy systems lack the capability to capture and retain communications with full context across all UCC modalities, making it very difficult for compliance, legal and risk teams to piece together a digital conversation that as mentioned, can encompass text, voice and visual communications. Keyword search, the historical and primary means of navigating archived email conversations, is inadequate as a standalone capability in the face of today’s volume and complexity challenges, making it challenging to respond to external and internal requests for information. All of this is compounded by constrained time frames, such as when dictated by a judge’s or regulatory body’s order. UnifiedComms_Laptop In response to this, Theta Lake has developed Unified Search, Discovery and Replay. With it, organizations can: Efficiently aggregate all of the necessary data, across different modalities, meshed environments and timelines providing a complete “big picture” Deliver a unified view of a user across their various digital identities, to eliminate gaps during investigations Identify conversation patterns and outliers/suspicious patterns in communications to enable further drill down Review associated documents and access patterns and histories associated with communications investigations Theta Lake Unified Search, Discovery and Replay uses a variety of technologies, including Generative AI, visualizations, dashboards and digital identity mapping along with rapid and accurate keyword search to help organizations produce the necessary records and search results, without over collecting data to help compliance, legal and risk management teams respond quickly to governance events.

Pouch Insurance unleashes multilingual AI tool

Pouch Insurance, leveraging the capabilities of the INSTANDA no-code insurance platform, has introduced a pioneering AI assistant named 'Goodie'.
Fuse Fleet launches Australia's first fleet ESG reporting tool with AI

Fuse Fleet launches Australia’s first fleet ESG reporting tool with AI

Fuse Fleet, a pioneering Australian insurance provider, has introduced the nation's first ESG reporting tool tailored for fleets, leveraging advanced AI technology from data analytics firm Greater Than.
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Insurance pricing modernisation is often framed as a technology problem, but in reality, it is increasingly a leadership and operating model challenge. The organisations that succeed are not necessarily those that invest the most in systems, but those that are able to rethink how pricing is structured, prioritised and embedded across the business.

Why insurers are rethinking how pricing is structured

Insurance pricing modernisation is often framed as a technology problem, but in reality, it is increasingly a leadership and operating model challenge. The organisations...
Aon, the global professional services and insurance brokerage firm, has expanded its Claims Copilot platform across North America, Asia Pacific and several countries in the EMEA region as part of a wider push to strengthen data-led claims management capabilities.

Insurance giant Aon rolls out Claims Copilot globally

Aon, the global professional services and insurance brokerage firm, has expanded its Claims Copilot platform across North America, Asia Pacific and several countries in...
insured.io, an InsurTech company specialising in omnichannel customer experience technology for insurers, has launched a new AI-powered virtual claims agent designed to automate the First Notice of Loss (FNOL) process across voice and chat channels.

insured.io rolls out omnichannel Claims AI solution

insured.io, an InsurTech company specialising in omnichannel customer experience technology for insurers, has launched a new AI-powered virtual claims agent designed to automate the...
Outmarket AI, an InsurTech company developing AI software for insurance brokers and agencies, has raised $17m in a Series A funding round led by Permanent Capital Ventures.

Outmarket AI lands $17m to expand insurance platform

Outmarket AI, an InsurTech company developing AI software for insurance brokers and agencies, has raised $17m in a Series A funding round led by...

How IntellectAI’s Magic Placement fights broker E&O risk

IntellectAI is pulling back the curtain on the technology driving its Magic Placement platform, as the InsurTech firm looks to address the persistent pain...
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