The insurance industry stands on the brink of a significant transformation with the introduction of Clive™, the first AI-powered Insurance Adjustment Agent by Five Sigma. Founded in 2017, Five Sigma has consistently pushed the boundaries of InsurTech by integrating AI and automation into its claims management platform. Now, with Clive™ positioned to revolutionize claims management, the goal is clear: improving
The world of insurance is rapidly evolving, with digital transformation changing the way businesses operate and interact with their customers. One of the latest advancements in this sphere is the integration of One Inc’s ClaimsPay® by Selective Insurance, a leading provider of business, home, and auto insurance. This partnership aims to streamline Selective’s claims process, offering policyholders quicker and more
The emergence of Juno marks a transformative moment in the landscape of employee benefits, heralding the introduction of child disability insurance in the U.S. Designed to fill a significant gap in financial protection for working parents, Juno’s groundbreaking approach has captured the attention of the industry and investors alike. As traditional employee benefits often overlook the unique needs of families
The National Labor Relations Board (NLRB) recently withdrew its appeal against a Texas federal judge’s decision that blocked its joint employer final rule. This move signifies a pivotal moment in the ongoing debate concerning joint employer standards under the National Labor Relations Act (NLRA), impacting both businesses and workers across various industries. The complexities surrounding the definition of a joint
The recent legal settlement involving Dollar General and accusations of age discrimination has brought to light a pervasive issue in workplaces across the country. Specifically, older employees at Dollar General faced derogatory remarks and were subjected to a discriminatory environment indicative of a larger, systemic problem of ageism in the workforce. This article explores the details of the case, the
The insurance industry is increasingly turning to advanced technologies to streamline operations and enhance decision-making processes. Akur8, a next-generation insurance pricing solution provider, has partnered with Millennial Specialty Insurance (MSI) to significantly improve MSI’s pricing capabilities through Akur8’s cutting-edge Risk and Rate modeling solution. This collaboration is an integral part of Akur8’s U.S. market expansion efforts within the personal insurance
In the digital age, the security of personal data is paramount. Companies that handle sensitive information are obligated to ensure its protection against unauthorized access and breaches. But what happens when these companies fail to implement adequate security measures? Are they held liable for the consequences that follow? Recent incidents like the data breach at Paychex, a major payroll services
Lemonade, a pioneering digital insurance company powered by artificial intelligence and committed to social impact, has been revolutionizing the concept of corporate philanthropy for eight years. Their Giveback program allows customers to direct charitable donations at no extra cost, supporting a wide range of nonprofit organizations. This year, the company has contributed over $2 million to 43 diverse causes around
Lemonade, a digital insurance pioneer renowned for its AI-driven mechanisms and philanthropic initiatives, has recently launched a revolutionary Buildings and Contents insurance product in the UK. This move marks a vital step in Lemonade’s continued expansion within the UK insurance market, having first established a foothold in October 2022 as a Prudential Regulation Authority-licensed carrier. The company’s AI-driven approach and
The landscape of commercial insurance is constantly evolving, driven by emergent needs and technological advancements. One of the most recent and noteworthy developments in this domain is the strategic partnership between Bold Penguin, a digital solution platform, and RT Specialty, a leading wholesale distributor of commercial excess and surplus (E&S) insurance products and services. This collaboration promises to bring significant
Travel protection has always been a vital consideration for travelers, covering unexpected events that can disrupt plans and cause financial stress. Recently, Priceline, a major player in the online travel booking industry, announced a groundbreaking partnership with Cover Genius, an InsurTech company specializing in embedded protection. This collaboration aims to significantly enhance travel protection for customers booking flights, hotels, rental
Gradient AI, a trailblazer in artificial intelligence (AI) for the insurance industry, has successfully secured $36 million in its latest funding round. This significant investment reflects confidence in the company’s innovative approach to leveraging AI and machine learning to revolutionize traditional insurance methodologies. Founded in 2018, Gradient AI is poised to use these funds strategically to advance its technology, expand
