Deferred repairs pose $317bn threat to insurers
A new study from ZestyAI has found that over 60% of U.S. homeowners are postponing critical home maintenance, potentially exposing insurers to an eye-watering $317bn in claims.
Why insurers must modernise AML with AI now
In today’s evolving financial crime landscape, the insurance sector is facing increasing scrutiny. Long considered a low-risk area, both life and non-life insurance products are now being exploited for money laundering, sanctions evasion, and fraud.
Cost-cutting vs growth: A guide for insurers
The insurance sector is at an important crossroads. It is currently in a period of increased competition and market pressure, meaning existing growth and profitability strategies are under strain. They need to find a way to cope with this market pressure but not stifle their future growth.
AI-driven Magic Placement transforms underwriting with smarter document insights
Insurance brokers are under growing pressure to process increasingly complex documentation while maintaining accuracy and speed. From comparing quotes to evaluating binders and policies,...
Previsico sounds alarm as most UK firms lack flood resilience plans
Fewer than 30% of UK businesses are ready to face the increasing threat of flooding linked to climate change, according to new findings from InsurTech firm Previsico.
Why insurers must balance fast service with accurate AI outputs
As expectations for speed and convenience rise, insurance companies are under growing pressure to deliver fast, seamless service to their clients. Yet, as M-Files warns, speed without accuracy—especially when deploying generative AI—can risk customer satisfaction and ultimately harm a firm’s reputation.
IntellectAI targets insurance inefficiencies with AI-driven policy placement solution
IntellectAI, the InsurTech division of Intellect Design Arena, has unveiled Magic Placement, a new AI-powered solution designed to overhaul the way agents, brokers, and wholesalers compare insurance documents.
How AI expert agents are transforming insurance underwriting workflows
AI expert agents are emerging as powerful tools in the insurance industry, reshaping the underwriting process by mimicking human decision-making. As artificial intelligence continues...
CompSource Mutual enhances Pricing Accuracy with Akur8
CompSource Mutual, the leading provider of workers’ compensation insurance in Oklahoma, has partnered with Akur8 to revolutionize their pricing models through the implementation of...
Smart Eye and Greater Than unveil impact of ADDW alerts on driver risk
Swedish technology firms Smart Eye and Greater Than have released initial findings from their collaborative research into the impact of Advanced Driver Distraction Warning (ADDW) alerts on driver risk.
© InsurTech Analyst © Copyright 2024. All rights reserved.
