Inflation poses a significant challenge for insurance companies today, as it leads to increasing costs and makes pricing uncertain. To set competitive pricing now, insurers must forecast the impact of future inflation on their business accurately. High inflation exacerbates the risks of pricing errors and makes the future more unpredictable, thereby putting pressure on insurers to adapt their risk management
Sapiens, a leading global software provider for the insurance industry, has announced a new strategic partnership with Microsoft to harness the power of generative artificial intelligence (AI) in the insurance industry. The collaboration aims to improve efficiency and customer service in the insurance industry, leveraging AI. This new endeavor is set to revolutionize the insurance industry by providing insurers with
Obie, an insurtech company focused on providing insurance to residential real estate investors, has announced that it has raised $25.5 million in a series B funding round. Battery Ventures led the round, with participation from Brick and Mortar VC, DivcoWest, and several real estate funds and investor groups. The new funding will support the future of embedded insurance as Obie
AdvantageGo, a leading provider of revolutionary technology solutions for the insurance industry, has announced a strategic alliance with Tremor, an online reinsurance pricing and placing platform, to modernize the reinsurance placement process. The collaboration builds on AdvantageGo’s previous announcements regarding its Ecosystem. Tremor’s innovative Panorama platform represents an evolutionary leap in the reinsurance risk placement process. This strategic alliance expands
A recent decision from the National Labor Relations Board (NLRB) is changing the way employers address abusive conduct that occurs during protected activities. This ruling requires employers to take a more nuanced approach when disciplining employees for their behavior during union-related activities, as this conduct may still be protected under the National Labor Relations Act (NLRA). This article will explore
In July 2015, a young woman was on her way to a training class for her internship when she was injured in a motor vehicle accident. The question of whether she was an employee or not came into dispute. Recently, the Workers’ Compensation Appeals Board of California found that the woman, who was seeking workers’ compensation benefits for her injuries,
Artificial intelligence (AI) technology is rapidly transforming the insurance industry. As more businesses seek efficient ways to process large volumes of data, AI has emerged as a game-changer. One company at the forefront of this development is Roots Automation, the pioneer behind AI-powered Digital Coworkers. Recently, the company unveiled its newest innovation called InsurGPT. This state-of-the-art, fine-tuned Generative AI model
In March 2023, the New Jersey Appellate Division issued a ruling that could significantly impact the discoverability of private social media accounts and personal cell phone records in employment litigation. The case involved a former employee’s lawsuit against her former employer for wrongful termination in violation of the New Jersey Law Against Discrimination (NJLAD). The employee alleged that her employer’s
As the COVID-19 pandemic continues to impact people and businesses across the world, the end of the public health emergency has become a topic of discussion among many policymakers and healthcare providers. In the United States, the emergency is set to end officially on May 11, 2023. This article delves into what this end means for welfare plans and plan
As the National Labor Relations Board (NLRB) continues to refine what constitutes “unfair labor practices” affecting workers, its recent decision in McLaren Macomb could have significant consequences for employers. In the case, the Board considered the structure and content of severance agreements and their enforceability under the National Labor Relations Act (NLRA). This article will examine the Board’s positions regarding
Fraud is a growing problem in the insurance industry, costing billions of dollars each year. The rise of technology, including new capabilities like generative AI, has increased the threat of fraud. To help combat this problem, CCC Intelligent Solutions and Verisk have partnered to prevent auto insurance fraud. The partnership brings together the market-leading technologies of both companies. CCC and
The National Labor Relations Board (NLRB) recently made a pro-employee decision, holding that the familiar Wright Line standard no longer governs cases involving employees disciplined for engaging in offensive or abusive conduct while participating in activities protected by Section 7 of the National Labor Relations Act (NLRA). Instead, the Board re-adopted “setting-specific” standards for those cases. This decision has significant
