The insurance sector is on the cusp of profound change, driven by a collaboration between cloud technology firm Insurity and the avant-garde Insurtech entity – OIP Robotics (OIPR). This partnership is set to revolutionize property and casualty (P&C) insurance through the power of artificial intelligence (AI). Their shared goal is to overhaul the way insurance data is processed by leveraging
Embedded insurance is not just a fleeting trend, it’s a game-changer in the way insurance is distributed and consumed. Its main appeal lies in its ability to integrate insurance coverage organically into the purchase of a product or service. This eliminates the need for the customer to seek out insurance separately and go through a potentially cumbersome process. Amidst buying
The U.S. Equal Employment Opportunity Commission (EEOC) recently intervened in a serious case of alleged workplace discrimination involving retail giant Dillard’s Inc. Charges of racial and pregnancy bias were leveled against the company, leading to a significant EEOC investigation. In a demonstration of commitment to justice and fair treatment in the workplace, the outcome was a $70,000 settlement. This payout,
The insurance industry is amid a significant transformation fueled by changes in consumer expectations and technological advancements. In an era where digital interactions are the norm, customers seek not just online engagement but also a personalized touch. They want services tailored to their specific needs and preferences, reflecting the industry’s need to integrate cutting-edge technology into its operations. As insurance
Buddy, a leader in embedded insurance tech, has partnered with Stripe, the payments giant, to revolutionize how insurance is offered in online shopping. Their collaboration harnesses Buddy’s advanced ION™ engine with Stripe’s payment processing to streamline the way insurance products are integrated at checkout, reshaping e-commerce. They are addressing historical hurdles that have stopped online shoppers from adding insurance to
Kristi Houston’s ascent to Vice President of Business Development and Operations at CompWest Insurance marks a strategic evolution for the firm. Houston, whose career trajectory has been nothing short of inspiring, began as a Marketing Manager and advanced to Regional Director before her latest elevation. Her resilience and dedication have become hallmarks of her tenure with the company. Houston’s in-depth
PremFina and Blink Intermediary Solutions have embarked on a pivotal strategic partnership, signaling a transformative shift in insurance finance. This collaboration converges the expertise of two industry pioneers to ignite a wave of customer-focused financial solutions within the insurance sector. Recognizing the dynamic needs of clients and brokers, this partnership emphasizes the integration of cutting-edge technologies to introduce enhanced flexibility
Space exploration innovator SpaceX is facing heavy scrutiny from the National Labor Relations Board (NLRB). The federal agency has issued a formal complaint, alleging that the aerospace giant’s employment contracts breach the National Labor Relations Act (NLRA). At the heart of the controversy are provisions within SpaceX’s employment agreements, particularly an arbitration clause and a class action waiver. These elements
The insurance industry, once rooted in conventional risk analysis, is now at a pivotal juncture with the emergence of AI and data analytics. These advanced technologies are shifting the sector from merely reacting to claims towards actively predicting and managing risks. The digital revolution has armed insurers with tools that enhance their underwriting processes and improve loss prevention strategies. Leveraging
Intelligent Process Automation (IPA) represents a seismic shift for businesses within the Banking, Financial Services, and Insurance sector. At its core, IPA fuses Artificial Intelligence (AI) with cutting-edge process automation technologies to handle complex tasks that traditionally required human intervention. By transcending conventional workflow limitations, IPA equips the BFSI sector with tools that are more accurate, faster, and able to
As we grapple with the complexities of modern societal dangers, the insurance industry is not standing idle. Recognizing the disturbing trend of increased mass shootings, insurers are being compelled to develop innovative strategies to manage such complex risks. The escalation in these tragic events has profoundly affected risk assessment methods and prompted the need for enhanced crisis management techniques. Insurance
Coterie Insurance, a rising star in insurance technology, has recently secured a substantial $27 million to boost its insurance offerings for small businesses. This significant capital injection indicates strong investor trust in Coterie’s approach as an InsurTech Managing General Agent (MGA). The successful financing round welcomed new investors such as Hiscox, while also maintaining the support of previous backers like
