Infrastructure/Back-end

As the insurance industry continues to undergo a dramatic transformation, with the adoption of Artificial Intelligence (AI) emerging as a pivotal remedy for age-old challenges. This technological shift isn't merely about enhancing customer experiences; it's also about refining internal operations for efficiency gains, as distriBind explains.

hyperexponential and Akur8, two prominent names in the FinTech industry, have recently announced a strategic partnership.

Low Code No Code (LCNC) software, a transformative innovation in the realm of application development, caters to individuals lacking coding experience. These platforms offer intuitive drag-and-drop interfaces, enabling users to craft applications effortlessly. InsurTech Ushur delves into the fundamental aspects of LCNC software, exploring its significance, key components, and the potential impact on businesses.

The state of reinsurance pricing in 2023 is under scrutiny. With the landscape of risks evolving at an unprecedented pace, reinsurers are facing significant barriers to optimally underwriting risks. A staggering 70% of underwriters acknowledge that this rapidly changing environment presents the greatest challenge to their ability to underwrite risks effectively.

In the realm of actuarial science, Akur8 has made a significant stride with the release of their latest research paper titled "Derivative Lasso: Credibility-Based Signal Fitting for GLMs."

Diesta, the London-based InsurTech startup, has successfully closed a seed funding round, raising $1.9m.

Layr, an Insurtech company for independent commercial insurance brokerages, has secured $10m in its recent funding round.

The insurance sector is grappling with a pricing tool dilemma. A significant 81% of insurers express doubts regarding the effectiveness of their current pricing technologies. One of the main culprits? Excel.

Sprout.ai, an "AI-led insurance claims automation company", has successfully secured an investment of £5.4m in a recent investment round. Spearheading this round were notable...

Pathpoint has revealed that it has experienced significant growth with over 14,000 registered agents and a 20% monthly increase in submission volume since partnering with Novidea.