AI & ML

Adaptive Insurance Secures $5M for Climate-Based Parametric Solutions
Technology & Trends Adaptive Insurance Secures $5M for Climate-Based Parametric Solutions

Amid growing concerns about the resilience of the U.S. power grid and the financial toll of power outages on businesses, Adaptive Insurance, a Texas-based firm specializing in climate resiliency, has recently announced a significant milestone. The company has secured $5 million in seed funding to

March 4, 2025
Solvency and AI Key to Future of Bermudian Life Insurers: BILTIR CEO
Risk Management Solvency and AI Key to Future of Bermudian Life Insurers: BILTIR CEO

As Bermudian long-term insurers and reinsurers look ahead to 2025, maintaining strong solvency and proper reserving, along with an enhanced focus on risk management, are paramount. Suzanne Williams-Charles, CEO of Bermuda International Long Term Insurers and Reinsurers (BILTIR), emphasizes these

February 12, 2025
Merchants Insurance Group Adopts AI to Enhance Claims Efficiency
Risk Management Merchants Insurance Group Adopts AI to Enhance Claims Efficiency

In a significant move to modernize its operations, Merchants Insurance Group has partnered with CLARA Analytics to integrate artificial intelligence (AI) into its claims processes. This collaboration aims to streamline claims management, improve operational efficiency, and enhance customer service.

February 6, 2025
How Can Insurers Efficiently Manage Large-Scale Claims in Los Angeles?
Risk Management How Can Insurers Efficiently Manage Large-Scale Claims in Los Angeles?

The large-scale insurance claims in Los Angeles, characterized by complexity and diversity, require a methodical, informed approach grounded in precision and collaboration. The particular blend of urban development and susceptibility to natural disasters such as earthquakes and wildfires in Los

February 4, 2025
Can the EXL Insurance LLM Revolutionize Claims and Underwriting?
Regulatory & Compliance Can the EXL Insurance LLM Revolutionize Claims and Underwriting?

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).

October 2, 2024
How is AI Revolutionizing Underwriting and Transforming Insurance?
Risk Management How is AI Revolutionizing Underwriting and Transforming Insurance?

Artificial intelligence (AI) is dramatically reshaping various industries with its far-reaching capabilities, and the insurance sector is no exception. Among the many insurance processes experiencing significant transformation, underwriting stands out as one of the most profoundly impacted.

October 2, 2024
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