The future of underwriting: IntellectAI’s triumph with generative AI models
Research indicates that the Generative AI market is at a pivotal moment. According to Grandview Research’s Market Analysis report, the global generative AI market size stood at USD 10.14bn in 2022 and is poised to witness a compound annual growth rate (CAGR) of 35.6% from 2023 to 2030.
Aviva acquires AIG’s UK protection business for £460m
Aviva has announced the acquisition of AIG Life Limited from Corebridge Financial, Inc., a quoted subsidiary of AIG, for £460m.
InsurTech Baoba partners with Continental Assist for parametric solutions in LaTAm
Boaba and Continental Assist have announced a partnership that aims to promote and expand parametric insurance solutions in the Latin American market.
Markel sees 113% underwriting productivity increase following Cytora partnership
Specialty insurer Markel has announced that it has experienced a 113% increase in productivity for its underwriting team due to its partnership with InsurTech Cytora.
Gallagher acquires Ace Commercial to strengthen transportation market presence
Arthur J. Gallagher & Co has acquired Ace Commercial Insurance Center in a significant move designed to bolster its position in the competitive transportation market.
Ledgertech, Menora Mivtachim, and Cellcom partner to launch automated digital travel insurance solution
Ledgertech, Menora Mivtachim, and Cellcom have recently formed a strategic alliance to launch the first-ever automated digital travel insurance product.
AIG tweaks senior leadership team as it aims to sustain growth
Global insurance association AIG has announced sweeping changes to its senior leadership team, following the appointment of a new executive vice president and chief marketing & communications officer.
Minnesota broker charged for alleged $650k fraud scheme
The Commerce Fraud Bureau has formally charged a Minnesota broker with alleged involvement in a $650k fraud scheme.
Julie Wood appointed CEO of QBE’s North America Division
QBE Insurance Group has confirmed the appointment of Julie Wood as Chief Executive Officer (CEO) of the company’s North America division.
BOXX Insurance partners with NSU to provide cyber protection education services
BOXX Insurance has announced a strategic partnership with Nova Southeastern University (NSU) to provide cyber protection education services for businesses.
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