The insurance sector is at a pivotal juncture as it embraces the potential of artificial intelligence (AI). Jack Willard's recent article, drawing from the Global Insurance Law Connect (GILC) report, delves into this evolving terrain. AI promises revolutionary enhancements in efficiency and
Proposed Legislation for MCCA Openness In an effort to bring about greater transparency within the Michigan Catastrophic Claims Association (MCCA), State Senators Mary Cavanagh and Rosemary Bayer have recently presented new legislative proposals that aim to hold the MCCA accountable to the public.
The insurance industry is being revolutionized by IoT technology. Once just offering policies online, like Progressive Insurance in 1997, the sector now leverages a steady flow of data from IoT devices in cars, homes, and on people to transform risk management and pricing models. The traditional
The insurance sector is on the cusp of a major evolution, pivotal to which is the Internet of Things (IoT). This technological advance is set to change the very foundation of risk assessment and insurance. As devices begin to communicate effortlessly, a deluge of real-time data becomes available to
The Dark Side of Connected Vehicle Services As vehicles become more technologically advanced, services like General Motors' OnStar Smart Driver program promise enhanced safety and convenience. But beneath the surface of these modern trappings lies a concerning ability to track and analyze our
The digital era ushers in unprecedented transformations across the globe, with Artificial Intelligence (AI) and Big Data redefining the nature of international trade and commerce. In this interconnected world, the fluidity of cross-border data flows has become the backbone of economic growth,
A recent exposé by The New York Times has brought to light a concerning trend in the automobile industry that encroaches on driver privacy. Prominent car manufacturers such as General Motors, Honda, Kia, Mitsubishi, and Subaru have been implicated in the controversial practice of selling detailed
The insurance sector, traditionally perceived as conservative and slow-moving, is undergoing a seismic shift as artificial intelligence (AI) begins to permeate every aspect of its operations. InsurTech, which stands at the confluence of insurance and technology, has been an area ripe for innovation
Introduction to AI in Insurance The insurance landscape is undergoing a profound transformation, with a staggering 77% of insurance C-suite executives embracing artificial intelligence (AI) within the past year alone. This rapid rise in AI adoption signals a pivotal shift towards technology-driven
Millennial Specialty Insurance (MSI) is set to revolutionize the Canadian renters' insurance market. In partnership with Summit Commercial Solutions, MSI is launching innovative multifamily insurance products specifically designed for Canada's growing number of renters. This move
