Tag: Machine Learning

Frank Winston Crum Insurance has partnered with Akur8 to enhance its risk modelling, pricing, and reserving processes through the adoption of Akur8’s core platform solution.

IntellectAI has introduced a new breed of AI-driven underwriting tools designed to elevate decision-making across commercial and specialty lines.

Artificial intelligence (AI) is having a profound impact on insurance underwriting, transforming long-established processes and significantly improving insurers’ capabilities. From improving risk assessment to tailoring offers and automating administrative functions, AI is enabling a new era of agility and competitiveness in the InsurTech space, as Earnix explains.

AI in insurance market is expected to grow from $8.13bn in 2024 to $141.44bn by 2034, driven by investments in AI-powered risk assessment...

Outmarket AI, a newly launched intelligence platform designed to transform the commercial insurance sector, has raised $4.7m in a seed funding round.

Akur8, a leading provider of machine learning-powered pricing and reserving solutions for insurers, has expanded its strategic partnership with Deloitte Canada, a global leader in consulting and actuarial services.

A recent report by Capgemini highlights that 62% of insurance executives acknowledge AI and machine learning as crucial for enhancing underwriting quality and reducing fraud. However, only 43% of underwriters consistently trust predictive analytics recommendations. This discrepancy raises an essential question: how can AI truly transform underwriting, and what trends are driving its adoption in the InsurTech industry? Custom software development company Symfa investigates.

Moody’s Corporation has announced its plans to acquire CAPE Analytics, a pioneer in geospatial AI intelligence for residential and commercial property risk evaluation.

Farm Bureau Insurance Company of Idaho has partnered with Akur8 to enhance its pricing capabilities through advanced machine learning. Farm Bureau Insurance Company of Idaho,...

Key European InsurTech investment stats in Q3 2024: European InsurTech deal activity increased by a third QoQ Investors prioritise deals under $100m with an...