In an era of technological advancements and an increasingly connected world, the insurance market is witnessing a surge in the use of data collection from alternative sources. Insurers, alongside insurtech ventures, have traditionally relied on insureds’ information obtained through proposal forms to assess risks and set policy prices. However, the rise of wearable technology and other innovative data sources has
CyberCube, a leading provider of analytics for the cyber insurtech industry, has released Account Manager v5, a new version of their portfolio modelling product called Portfolio Manager. This latest update further enhances the capabilities of Account Manager, allowing clients to quantify the impact of individual accounts on their overall portfolio’s loss profile. With this powerful tool at their disposal, underwriters
In a groundbreaking move, VOOM Insurance, an innovative Insurtech company at the forefront of the future of mobility, is set to launch its latest offering – VOOM & Drive. This usage-based insurance auto policy is designed specifically to cater to the needs of rideshare and delivery drivers in the gig economy. With personalized rates and a focus on affordability, VOOM
With the rise of fraudulent insurance claims, Allianz, a leading insurance company, remains committed to staying one step ahead through the implementation of artificial intelligence (AI) technology. By leveraging their innovative tool, “Incognito”, Allianz aims to effectively identify and tackle potentially fraudulent claims, ensuring the protection of their genuine customers and their premiums. The Role of Incognito in Identifying Potential
Marble, the innovative insurance platform, is on a mission to simplify insurance for its members. In collaboration with Fletch, a leading provider of insurance solutions, Marble takes this mission a step further by offering a wider range of pet insurance providers through their shopping marketplace. This partnership aims to ensure that Marble members can easily access trusted pet insurance options
The U.S. Supreme Court recently engaged in a thought-provoking discussion on the actions that should be classified as actionable discrimination against workers under Title VII of the 1964 Civil Rights Act. This examination aimed to determine how the court should distinguish between various types of discriminatory workplace policies and establish when they can be deemed injurious under Title VII. The
Ledger, a leading provider of secure devices for cryptocurrency storage, has announced a groundbreaking partnership with Bolt, the country’s largest technology-enabled Property and Casualty (P&C) insurance exchange. This collaboration aims to offer device protection solutions for Ledger’s state-of-the-art hardware wallets, providing customers with peace of mind and added security. Partnership Announcement In a significant move, Bolt has joined forces with
The survey conducted in October and November of 2023 provides a fascinating look at a wide array of transformative trends that are currently top-of-mind for insurers and insurance asset managers in Hong Kong and Singapore. With over 80 participants representing a staggering $2.5 trillion in assets under management, the survey yields valuable insights into the industry’s expectations for the coming
Antitrust laws have long been established to safeguard fair competition in the marketplace. However, in recent years, there has been a notable shift in focus towards the intersection of antitrust regulations and wage transparency laws. Joe Miller, co-chair of the antitrust practice at Mintz, acknowledges that while the antitrust laws remain unchanged, the landscape is evolving due to the increasing
In a significant development, a federal judge approved a $2.4 million settlement on Wednesday for a class-action suit between food corporation Cargill and a group of current and former employees. The employees alleged that Cargill failed to pay them for all hours worked following the 2021 Kronos ransomware attack. The settlement, in the case of Futrell v. Cargill, comes after
Igloo, a leading insurtech operating in Asia, has successfully closed a substantial Pre-Series C funding round, securing a total of $36 million. This funding round, which underscores the growing interest in the Asian insurtech market, was led by global investment firm Eurazeo. Backed by the insurer BNP Paribas Cardif, Eurazeo’s involvement highlights the institution’s commitment to nurturing innovative technologies and
Novidea, the global insurtech company, has recently announced the launch of its innovative insurance management platform in Southeast Asia. With increasing demand for digital transformation in the region’s insurance industry, Novidea aims to empower brokers, agents, MGAs/MGUs, and carriers to modernize their operations, manage the customer journey more effectively, and drive growth across the entire insurance distribution lifecycle. Features of
