The insurance industry has long grappled with inefficiencies, higher indemnity costs, claims leakage, and compliance risks. EXL, a leading data analytics and digital operations solutions provider, aims to address these issues with its recently launched EXL Insurance Large Language Model (LLM).
In a significant legal move, Cardinal Timothy Dolan of New York announced that the Archdiocese of New York has filed a lawsuit against its longstanding primary insurance company, Chubb. The lawsuit alleges that Chubb is attempting to evade its legal and moral obligations to settle claims related to
The UK property insurance market is at a crossroads, grappling with multiple challenges ranging from high inflation and supply chain disruptions to the ever-growing risks associated with climate change. It’s not an understatement to say that efficient claims management may very well hold the key to
Bandhan Life Insurance has made a decisive move to bolster its presence in the life insurance sector by entering into a strategic partnership with Bandhan Bank. Leveraging Bandhan Bank's extensive network of branches, this collaboration aims to significantly enhance the distribution of life
Bridge Insurance Brokers, a well-established name in the UK insurance industry, has recently made waves by extending its innovative claims app technology to property insurance clients. This forward-thinking move builds on the success seen with their motor insurance clients, promising to streamline
Personal Group Holdings has reported remarkable financial performance for the first half of 2024, showcasing significant growth in revenue and profit driven by market opportunities and strategic initiatives. The company witnessed a revenue increase of 14%, reaching £21 million compared to £18.4
The notion of consolidating smaller fronting insurance companies into larger entities has gained significant traction in recent years, driven by the appeal of streamlining operations, reducing redundancy, and enhancing overall market efficiency. Proponents argue that fewer, larger companies would
The acquisition of Minuteman Adjusters by Davies Group marks a significant development in the insurance industry, likely to shift market dynamics in North America. Both companies are reputable in their fields, and their merger is expected to bring notable changes in service offerings, technological
The insurance industry has long been marked by strategic moves and significant milestones. One such event is Monarch E&S Insurance Services’ acquisition of Professional Insurance Executives, Inc. (PIE). This article delves into the nuances and implications of this critical business decision,
mamaAs the industrial insurance sector prepares for the 2025 renewal season, the landscape appears varied and complex. Insight from MRH Trowe, a leading broker in the field, reveals nuanced perspectives on risk pricing trends across different types of insurance. This article explores these trends
