The U.S. Department of Labor (DOL) recently unveiled its final rule, revising the interpretation of the Fair Labor Standards Act’s classification provision to determine whether a worker should be considered an independent contractor. This rule holds significant implications for employers and workers, aiming to establish a consistent framework for determining employment status and ensuring fair treatment. The Final Rule and
In the fast-paced insurance industry, customer experience (CX) reigns supreme. Insurers are increasingly recognizing that providing a superior CX is the key to success. In this article, we explore the importance of CX, consumer preferences, the power of Generative AI (GenAI), and how it can transform the industry. We’ll also delve into the specific tenets for an efficient CX platform
DigitalOwl, an insurance technology company, has recently secured a significant $12 million investment from Reinsurance Group of America, Incorporated (RGA). This investment marks a strategic partnership between the two companies and paves the way for the integration of DigitalOwl’s advanced AI technology into RGA’s systems through a long-term global partnership. The collaboration aims to further aid platform development and enhance
Ohio Mutual, a leading mutual insurance company, has recently announced its partnership with Akur8, a provider of advanced risk and rate modelling solutions. The collaboration aims to streamline Ohio Mutual’s predictive modelling processes, improve rate reviews, and foster a more data-driven approach to sharing actionable insights with internal stakeholders. This strategic move demonstrates Ohio Mutual’s commitment to staying ahead in
Dyad, Inc. (formerly XDimensional Technologies and I-Engineering) has recently made a significant foray into the Property & Casualty (P&C) insurance market. This strategic move aims to meet the evolving needs of various segments within the insurance industry. With a strong focus on innovation and comprehensive solutions, Dyad is poised to make a lasting impact in the market. Strategic Vision Recognizing
The collaboration between Mastercard and 4thWave aims to revolutionize and optimize business-to-business (B2B) payment flows in the Eastern Europe, Middle East, and Africa (EEMEA) region. By harnessing 4thWave’s sophisticated supply chain finance platform, the partnership seeks to address the need for efficient financing platforms, particularly for small and medium-sized enterprises (SMEs) and micro, small, and medium enterprises (MSMEs). This collaboration
The ever-increasing threat of cyber attacks has left businesses vulnerable, making comprehensive cyber insurance coverage a necessity. To address this, Cowbell, a leading provider of cyber insurance, has expanded its coverage to include businesses with an annual turnover of up to £1 billion. This move solidifies Cowbell’s commitment to fortifying the UK business landscape against cyber threats and meeting the
Vienna-based InsurTech company hi.health has successfully raised €6m in its pre-Series A financing round. The funding comes in the wake of high investor interest, with notable existing investors such as SpeedInvest and Calm/Storm participating alongside new international investors Haymaker Ventures, Fin VC, and Nina Capital. This financing round marks a pivotal moment for hi.health as it seeks to scale its
In an exciting development for the insurance industry, Blink Parametric has agreed to a further three-year deal with Blue Cross, Canada’s most trusted insurance provider. This extended partnership signifies the strength of their collaboration and the significant growth they have experienced over the past five years. Implementation of Blink Parametric by Blue Cross Blue Cross proved to be a trailblazer
Janover Inc., a leading innovator in technology and marketplaces, has unveiled its latest venture, Janover Insurance Group. This insurtech subsidiary aims to disrupt the commercial property insurance industry through the application of generative AI and comprehensive data analysis. With an initial focus on multifamily and commercial property insurance, Janover Insurance Group plans to expand its services to include Small and
Alta Signa, a leading insurance company, has announced a new underwriting structure aimed at strengthening its regional expertise and expanding its insurance offerings across Europe. Currently, the company writes management liability, financial institutions, professional indemnity, cyber risk, financial crime, and marine insurance in seven European markets. With a strong focus on local knowledge and a presence on the ground in
Against a backdrop of unprecedented technological advancement, Zurich Insurance Group (Zurich) is launching the fifth edition of its global startup program, the Zurich Innovation Championship. This open innovation contest for startups in the insurance industry invites entrepreneurs from all across the globe to sign up for one of four categories: Commercial Insurance, Digital Simplification, Life & Health, and Retail P&C.
