How pricing strategy is driving digital transformation in UK insurance sector
The power of pricing transformation in the digital journey of insurance companies cannot be overstated. A pivot towards this aspect can lead to an impressive array of benefits, ranging from competitive edge to talent retention, regulatory adherence and even improvement in loss ratio.
Insurers’ pricing models floundering despite tech investments
A recent survey conducted by Coleman Parkes, on behalf of pricing decision intelligence leader hyperexponential, has unveiled the extensive dissatisfaction within the Specialty and Commercial insurance sectors regarding their current pricing and technology.
Claims management tech leader Snapsheet lands investment
Snapsheet, the Chicago-based firm leading the charge in claims management technology, has successfully secured a strategic investment. As an innovator in its sector, Snapsheet's mission is to redefine the landscape of claims handling through its proprietary platform.
Akur8 and Madison Mutual Insurance join forces to redefine pricing in personal insurance lines
Madison Mutual Insurance Company (MMIC), a prominent Midwest insurer, and Akur8, a groundbreaking solution provider for non-life insurance pricing, have announced their partnership.
The collaboration...
The rebranding of insurance claims: how insurers are modernising a once antiquated process
Insurers are finding themselves on the cusp of an innovative overhaul, specifically with regard to the claims journey - a process historically plagued by complex systems and lack of transparency, but now being redefined by advancing technology and evolving customer expectations.
How to successfully implement a digital transformation
As the insurance industry experiences a pivotal shift towards digitalisation, InsurTech leaders emphasise the importance of digital transformation not only to meet evolving customer expectations but also to enhance operational efficiency and foster innovation.
Atlantic InsurTech startup QuickFacts secures $1.13m for Canadian expansion
Halifax-based startup QuickFacts, dedicated to improving the insurance industry with technological disruption, has confirmed the successful completion of a funding round securing $1.13m.
Simplifai launches InsuranceGPT, a bespoke AI solution for the insurance industry
Simplifai, renowned for its AI automation solutions, introduces Simplifai InsuranceGPT - the first-ever custom GPT tool specifically crafted for the insurance sector.
Harnessing the power of big data: A new era for insurance and InsurTech
In the rapidly evolving world of insurance and InsurTech, the term "big data" is gaining significant traction. With implications for risk assessments, policy pricing and customer interactions, insurance industry professionals explore how it is driving innovation.
How insurers can successfully extract data from emails using AI
Extracting accurate data from emails can be a challenging task for insurance companies, even with the help of AI. Ushur advocates for what it calls an “ontology-based” approach alongside the use of AI.
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