Tag: risk assessment

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.

Sanctions serve as a powerful foreign policy instrument, exerted by governments to influence behaviour by penalising nations, entities, or individuals engaged in unlawful activities.

Inscora, a Montreal-based startup, has secured $2m in funding to enhance its cyber insurance solutions.

Akur8 and Mutual Capital Analytics have announced a strategic partnership aimed at transforming insurance pricing through advanced, AI-driven technologies. Akur8 is renowned for its innovative...

In the realm of InsurTech, the ability to accurately assess risk, calculate premiums, and determine policy renewals hinges significantly on understanding historical losses.