Tag: risk assessment

AI expert agents are emerging as powerful tools in the insurance industry, reshaping the underwriting process by mimicking human decision-making. As artificial intelligence continues...

Sixfold, a pioneer in generative AI solutions for insurance risk analysis, has launched its AI Accuracy Validator, a tool designed to improve underwriter confidence in AI-generated risk assessments.

Nirvana Insurance, an AI-driven commercial trucking insurer, has secured an $80m Series C funding round, bringing its valuation close to $850m.

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

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.

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.

Quantee, a leading InsurTech specialising in advanced insurance pricing solutions, has joined forces with MedtechInsurance to transform risk assessment tools.

Pinpoint Predictive, an innovator in the InsurTech sector, has successfully completed its Series A funding round, amassing more than $23m.