Tag: Generative AI

The Digital Insurer (TDI), a leading voice in the InsurTech sector, has announced an exclusive partnership with the Singapore College of Insurance (SCI), a premier provider of professional insurance education.

CLARA Analytics, a leading AI as a service (AIaaS) provider focused on transforming casualty claims outcomes, has recently announced a significant financial boost. This investment,...

Verisk, a leading global data analytics and technology provider, has introduced an automated Generative AI tool which has been designed to support faster insurance claims processing.

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...

FinTech and InsurTech are rapidly evolving, consistently introducing game-changing technologies, among which embedded AI and generative AI stand prominently. These advancements aren’t mere buzzwords but rather critical tools altering the landscape of commercial and specialty insurance, particularly in the realms of underwriting and customer experience.

Unless you’ve spent the past year under a rock, you’ll be aware of the excitement for generative AI. While many have used the technology to write emails, do homework or create CVs, generative AI could be one of the most transformative technology stacks to businesses. Laila Beane, the chief marketing officer at IntellectAI, the insurtech and wealthtech brand of Intellect Design Arena, recently delved into generative AI’s impact on insurance.

Tradition is something to be honoured, but not at the expense of progress. In recent years insurance carriers have moved away from paper forms, and instead implemented digitalisation throughout their product. But there is more to come. In particular, the digital transformation of underwriting still remains a key headache.

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.

Planck has unveiled a 'game-changing' underwriting tool that incorporates advanced Generative AI (GenAI) functionalities.

Evident has launched a generative AI solution for risk managers to streamline and simplify the insurance verification process.