Tag: Insurance

SiriusPoint has unveiled a new strategic partnership with Holmes Murphy, one of the largest independent insurance brokerages in the US.

The insurance sector is undergoing a significant transformation, driven by cutting-edge automation technologies and evolving customer expectations. Over recent years, innovations such as artificial intelligence (AI) and intelligent process automation have drastically improved insurers' ability to process claims, streamline operations, and enhance customer interactions.

When analysts begin working in pricing, their first instinct is often to dive straight into modelling. Generalised Linear Models (GLMs) are a standard approach, commonly taught as the foundation for pricing models. It is easy to get caught up in testing different variables, applying transformations, and searching for interactions. However, focusing solely on model mechanics can cause analysts to overlook fundamental limitations, according to Quantee. 

Edenred Payment Solutions, a UK-based e-money institution, has launched a new Virtual Card Number product designed to help insurance companies speed up claims payments.

Generative artificial intelligence (GenAI) is rapidly reshaping the financial services sector, offering insurers and lenders new ways to enhance efficiency, improve accuracy, and personalise customer interactions. Earnix, a leader in AI-driven decision-making solutions, highlights how GenAI is automating routine tasks, allowing teams to focus on more strategic initiatives that drive business growth.

Peak3, a global InsurTech company specialising in cloud-based insurance solutions, has raised $35m in a Series A funding round to accelerate its expansion across the UK and European markets.

A landmark study by the University of Groningen has demonstrated the tangible financial benefits of digital health engagement, revealing that insurers can cut healthcare costs by up to 5.3% over the next two years. The research, which analysed a major Dutch health insurer’s data, highlights the potential of digital platforms to drive user engagement and reduce the strain on healthcare systems. At the forefront of this transformation is dacadoo, whose second-generation platform not only enhances engagement but also leverages AI and behavioural science to optimise underwriting and dynamic pricing.

WTW, a global advisory, broking, and solutions company, has named Massimo Cavadini as head of product, pricing, claims and underwriting for Continental Europe.

ZestyAI, an artificial intelligence-driven predictive analytics company, has announced a new partnership with digital insurance company Lemonade to optimise underwriting for key catastrophe perils across the U.S.

Administrative tasks make up a substantial portion of the over $4tn annual healthcare expenditure in the United States. Despite digital advancements, only a quarter of healthcare members actively engage with existing digital portals and apps. As a result, call centres remain overwhelmed, struggling to meet demand. But Ushur is helping to change that through its AI Agent for Member Service.