Tag: regulatory compliance

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...

359 senior insurance professionals were surveyed, managing over $13tn in assets on their balance sheets Only 20% of respondents haven’t considered AI, whereas...

As the European Union's Digital Operational Resilience Act (DORA) comes into effect, KYND, a leader in cyber risk intelligence and management, is urging financial services firms to prioritise long-term cyber resilience within their operations.

The Earnix 2024 Industry Trends report revealed that nearly 75% of insurers have hundreds of rules embedded in their underwriting systems, with 18% stating they manage thousands. This overwhelming number of rules can complicate processes and impede efficiency. In response to these stark figures, Earnix is delving into how insurers can address these complexities and streamline their underwriting processes.

Managing insurance submissions is a challenging and time-consuming aspect of the underwriting process. IntellectAI has released a new whitepaper outlining how its Magic Submission...

Generative AI is revolutionising the insurance sector, particularly for wholesalers, by addressing critical challenges like reduced capacity, increased competition, and the demand for value demonstration.

Fuse Fleet, a pioneering Australian insurance provider, has introduced the nation's first ESG reporting tool tailored for fleets, leveraging advanced AI technology from data analytics firm Greater Than.

Mergers and acquisitions (M&A) have long been pivotal strategies for growth within the insurance sector, enabling firms to expand their market presence, enter new territories, and secure competitive advantages.

Claims represent a pivotal moment in insurance, often determining customer loyalty and future business opportunities. They not only involve the insurer and the customer...

The power of pricing transformation in the digital journey of insurance companies cannot be overstated. A pivot towards this aspect can lead to an impressive array of benefits, ranging from competitive edge to talent retention, regulatory adherence and even improvement in loss ratio.