Verisk’s President and CEO, Lee Shavel, has been appointed to the Federal Advisory Committee on Insurance (FACI), a move that underscores his pivotal role in the insurance industry. Shavel, well-known for his leadership and strategic vision at Verisk, now has an additional platform to influence industry policy. Under his guidance, Verisk has effectively embraced a client-centric strategy, cultivated strong partnerships,
Igloo, a well-known InsurTech firm, has announced the launch of its direct-to-consumer (D2C) insurance platform, igloo.co.id, in Indonesia, marking a significant expansion for the company within Southeast Asia. This new venture is strategically designed to address the key barriers to insurance adoption in Indonesia by offering affordable and easily accessible microinsurance products. Igloo aims to cater to the rising digital
Chubb, a global leader in property and casualty insurance, has recently appointed Tim Benson as its new executive vice president and multinational insurance leader, effective October 30. Benson will be tasked with overseeing the strategy, product development, and business operations of Chubb’s multinational insurance segment. His responsibilities further extend to managing underwriting operations, profit and loss performance, and coordinating North
Aurora Insurance, a London-based digital insurance platform, has announced the successful acquisition of seed funding from QBE Ventures to advance its digital commercial insurance solutions. Aurora employs innovative technologies such as algorithmic trading and artificial intelligence (AI) to optimize workflows, enhance risk assessment capabilities, and boost operational efficiency. By seamlessly integrating into existing ecosystems, the platform empowers insurers and brokers
In a noteworthy development within the insurance sector, Pivix Specialty Insurance Services has partnered with Canopius US Insurance to enhance the accessibility and efficiency of commercial property insurance for wholesale brokers, with a strong focus on those managing smaller commercial accounts. This collaboration aims to streamline insurance solutions, addressing the growing demand in the market and providing much-needed support to
Prudential Hong Kong, in partnership with the Reinsurance Group of America (RGA), has launched MedScreen+, a groundbreaking digital underwriting tool designed to modernize the underwriting process through the use of advanced optical character recognition (OCR) and artificial intelligence (AI) technologies. This revolutionary tool can swiftly analyze over 160 types of medical tests, including blood tests, ultrasounds, and X-rays, which significantly
Human resource (HR) departments play a critical role in maintaining a company’s legal and ethical standards, yet they are often fraught with challenges that can lead to severe repercussions. Reports of colorism, sham investigations, and fraudulent background checks highlight the significant risks of ignoring HR compliance. These incidents do not only result in legal consequences or costly settlements but also
Broker Insights, a Dundee-based insurtech firm, has made a strategic move to expand its operations to the US following thorough research and development. The company’s flagship platform, Vision, has been instrumental in helping insurance brokers efficiently manage and understand their client base while fostering connections with insurers. After analyzing nearly $1 billion in gross written premiums (GWP) in the US
Embroker, a forward-thinking digital insurance company, has partnered with Everspan, a renowned underwriting firm, to reshape the commercial insurance landscape through advanced digitization. By integrating Everspan’s underwriting expertise into Embroker’s state-of-the-art ONE platform, this collaboration has led to the creation of specialized industry programs targeted at sectors like real estate, consulting, and finance. This strategic alliance has multiple benefits, enabling
The collaboration of Prudential and Reinsurance Group of America, Incorporated (RGA) marks a significant milestone in the evolution of the insurance industry with the introduction of MedScreen+, a state-of-the-art digital underwriting tool. Leveraging the powerful capabilities of optical character recognition (OCR) and artificial intelligence (AI), MedScreen+ aims to expedite the traditionally prolonged and cumbersome task of medical report assessment. This
In a move that signifies the growing impact of AI on the insurance industry, Bishop Street Underwriters, owned by RedBird Capital Partners, has partnered with InsurTech leader Kalepa to implement advanced AI technologies. This partnership focuses on improving underwriting accuracy, risk assessment, and portfolio strategy. Bishop Street’s Managing General Agents (MGAs) will utilize Kalepa’s AI Copilot to make more informed
The legality and conditions under which employers can terminate an employee for testing positive for marijuana, particularly when the drug was consumed outside of the workplace, form the crux of employer drug-free workplace policies. The question delves deep into employee rights and employer obligations, especially within the context of state-specific regulations such as those found in Wisconsin. Drug-Free Workplace Policies
