Tag: Insurance

The insurance industry is undergoing a transformative shift, propelled by the integration of Artificial Intelligence (AI). As insurers grapple with increasingly complex claims and rising customer expectations, AI has emerged as a potent tool to streamline processes, enhance accuracy, and elevate customer satisfaction levels. However, amidst the plethora of AI solutions available, selecting the right option for claims management is not a simple task, as the AI automation platform Simplifai explains.

Juno, a public benefit corporation, is set to become the first company to provide Child Disability Insurance in the United States.

Oyster, an embedded insurance platform for commerce, has announced its partnership with Electric Bike Company, a renowned player in the micro-mobility industry.

AXIS Capital Holdings Limited has revealed plans to enhance its suite of specialty insurance solutions in North America with the introduction of a Canadian Environmental Impairment Liability (EIL) insurance unit.

The advent of generative AI is not just a futuristic vision but a present reality transforming how businesses communicate with customers. This cutting-edge technology, underpinned by large language models (LLMs) like GPT-4, BERT, ELECTRA, and RoBERTa, is setting new standards for customer interaction and service delivery. It enables systems that not only manage communications but also predict and adapt to customer needs with unprecedented personalization and efficiency.

Digitalisation is a cornerstone of any discussion related to transformation within insurance. As firms try to meet the demands of the modern customer, their path relies on their digitalisation strategy; however, this is a rather ambiguous term that can mean different things to each insurance organisaiton. Several industry experts discussed the role of digitalisation within insurance  as part of the Professional InsurTech Certificate course.

Oka, a pioneering force in the carbon credit insurance market, has recently heralded the successful closure of a substantial $10m funding round.

A new initiative, known as the Travel Insurance Eco Challenge, has been launched aiming to foster sustainable travel practices within the global travel insurance industry.

EIS, a leading provider of Software as a Service (SaaS) platforms for the insurance industry, is set to introduce ClaimSmart™, an intelligent cloud solution designed to revolutionise claims management.

Chaucer, a leading insurance underwriting group, has introduced parametric cover to address weather-driven business interruption losses.