The insurance industry is experiencing a significant transformation thanks to the integration of artificial intelligence (AI) technology. As AI becomes more sophisticated, it is revolutionizing various aspects of the industry. This article explores the role of AI in detecting fraudulent claims, offering personalized policies, reshaping the industry, introducing innovative services, and transforming the insurance landscape, among other topics. AI in
In a significant development in the insurtech sector, the international company bolttech has welcomed the leading impact investment firm LeapFrog Investments as a strategic investor in an extension of its Series B funding round. With LeapFrog’s US$50 million investment, the total funding for the round now amounts to an impressive US$246 million, making it the largest ever Series B round
BriteCore, a leading provider of SaaS core administration solutions for property/casualty (P&C) insurance carriers, has announced a wave of innovative product features to meet the evolving needs of P&C insurers. With a focus on delivering greater efficiency, productivity, and a modern customer experience, BriteCore aims to empower insurers through its cloud-native platform. This article explores the new features offered by
Insurify, a leading InsurTech company, has recently announced a partnership with embedded insurance startup Fletch to expand its platform offerings by introducing pet insurance. This strategic collaboration comes in response to research conducted by Insurify, which showcases that pet care costs are a top concern for their clients. Research Findings According to the research conducted by Insurify, pet care costs
Planck, the global insurtech platform for commercial insurance, has unveiled its groundbreaking product, Planck PLUS. This cutting-edge offering aims to redefine underwriting by harnessing the power of generative artificial intelligence (GenAI). By leveraging the latest AI technologies and proprietary machine learning models, Planck PLUS sets a new standard in underwriting risk research, insight generation, data attribution transparency, and automation. Overview
In the ever-evolving landscape of insurance, NEXT Insurance has taken a significant leap forward with the launch of its innovative Coverage Builder. This groundbreaking tool enables agents to micro-tailor small business quotes for their clients, providing a more personalized and effective approach to insurance coverage. This article explores the features and benefits of Coverage Builder, its accessibility for both agents
In an exciting development for the insurance industry, Insurify, the leading online insurance comparison platform, has entered into a multi-year agreement with Santander Consumer, one of the largest automotive finance companies in the United States. This groundbreaking partnership aims to provide Santander’s customers with access to Insurify’s innovative digital insurance comparison and shopping experience. By harnessing the power of Insurify’s
In an effort to streamline the process of obtaining cyber insurance coverage for AWS customers, Measured, a leading provider of AI-driven insurance solutions, has joined the AWS Cyber Insurance Partner Initiative. By leveraging its advanced quoting solution and AI-driven analytics, Measured aims to empower SMEs in mitigating cyber risks and protecting their digital assets, while reducing the complexities associated with
Thinktum Inc., with its headquarters in Waterloo, Ontario, has made a significant move in the insurance industry by acquiring Illustrate Inc., which has offices in Overland Park, Kansas and Toronto, Ontario. This strategic merger aims to position Thinktum as the leading provider of no-code solutions in the Insuretech and life insurance sectors. With a shared vision of revolutionizing the industry
The cyber insurance market has experienced a period of upheaval marked by a rapidly deteriorating loss environment, limited insurance capacity, surging global demand, and a much-needed pricing correction. However, encouraging signs indicate that market conditions are stabilizing due to significant improvements in underwriting results. This article explores the growth potential, correction, claims frequency, risks associated with biometric data, improved underwriting
A trucking company in North Jackson, Ohio, is currently facing a lawsuit as allegations of harassment and wrongful termination of two gay mechanics have come to light. The Equal Employment Opportunity Commission (EEOC) has accused the company of tolerating a hostile work environment that subjected the mechanics to discrimination based on their sexual orientation. Description of the alleged harassment According
NEXT Insurance, a leading digital insurance company, has announced the launch of its innovative offering called Coverage Builder. This new tool enables agents to customize coverage quotes for their small business clients, providing tailored policies that best meet their unique needs. With Coverage Builder, agents can now micro-tailor quotes, select policy limits, add or remove coverage, and even update limits
