Insurtech start-up Allium Data, Inc. has made major waves in the industry by securing a significant pre-seed funding round of $750,000 from Markd, a prominent insurance and insurtech-focused venture capital firm. This funding marks a pivotal moment for Allium Data, allowing them to accelerate their growth and go-to-market strategy for all of their innovative platform products. With a mission to
Reserv, the digital-native Third Party Administrator (TPA), has recently announced the successful closure of its $20 million Series A funding round. The funding will be utilized to expand Reserv’s generative AI claims data analysis tools, further enhancing efficiency and accuracy in insurance claims handling. Co-led by Altai Ventures and Bain Capital Ventures (BCV), this funding round attracted participation from prominent
Boost Insurance, a leading digital managing general agent (MGA) platform, has announced a strategic collaboration with Canopius US Insurance Holdings. The collaboration aims to offer long-term risk capacity to support Boost-powered insurance programs, fostering growth and profitability. This partnership signifies a step towards advancing insurance innovation and expanding the reach of technology-driven insurance solutions. Along with the collaboration, Canopius has
UK-based insurtech Artificial Labs has joined forces with Tier 2 Consulting to revolutionize the insurance industry through the use of automated underwriting technology. This strategic alliance promises to deliver cutting-edge solutions and transformative advancements for insurance providers and policyholders alike. By seamlessly incorporating Artificial’s platform features into their current systems and infrastructure, commercial insurers and brokers will benefit from enhanced
Felony convictions can have far-reaching consequences, extending beyond fines and sentences. One area significantly affected is retirement benefits. This article examines a case study involving a California public employee, highlighting the forfeiture of her accrued retirement benefits following a felony conviction. It sheds light on the implications such convictions can have on an individual’s retirement security, even if the conviction
A research center affiliated with the University of Chicago, known as the National Opinion Research Center (NORC), has reached a settlement with the U.S. Department of Labor (DOL) following allegations of discrimination against more than 100 Asian job applicants. The settlement includes the payment of $95,000 in back pay and interest, as announced by the DOL on Monday. This development
Reserv, a leading player in AI-driven insurance claims processing, has successfully closed a $20 million Series A funding round. This substantial financing will fuel the expansion of Reserv’s generative AI claims data analysis tools, solidifying their position as a frontrunner in the insurtech space. Details of the Funding Round The Series A funding round was co-led by Altai Ventures and
The widespread nature of sports gambling and its easy accessibility through mobile phones and computers present potential challenges for employers. While many individuals can engage in gambling responsibly, the prevalence of sports gambling increases the likelihood of encountering problems within the workplace. This article will examine the risks that arise when employees have a gambling problem and discuss strategies employers
In fiscal year 2023, the U.S. Equal Employment Opportunity Commission (EEOC) made headlines by filing an unprecedented number of employment discrimination lawsuits. With 143 cases filed, this has become a pivotal year for the agency, indicating a remarkable increase in litigation activity. Among these lawsuits, 25 were systemic cases, showcasing the highest number filed in the past five years. This
In today’s rapidly advancing technological landscape, industries across the board are embracing new technologies to enhance their operations. The insurance industry, too, has experienced a wave of innovation in recent years with the emergence of Insurtech. In this article, we will explore the impact of Insurtech on the insurance landscape, delving into its various applications and benefits. Online and Mobile
In today’s rapidly evolving digital landscape, Insurtech has emerged as a game-changer in the insurance sector. Defined as the application of technological innovations in insurance, Insurtech aims to streamline processes, enhance efficiency, and provide superior customer experiences. By leveraging automation, big data, analytics, and artificial intelligence (AI), Insurtech is reshaping the traditional insurance industry to meet the ever-changing demands of
The insurance industry has always been known for its complex processes, lengthy paperwork, and time-consuming claims procedures. However, advancements in Artificial Intelligence (AI) are now dramatically transforming the way insurance companies operate. By harnessing the power of AI, insurers can not only improve their customer service and streamline processes but also minimize risk. In this blog post, we will explore
