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Tag: AI


InsurTech

Insurtech weekly news roundup: Sept. 30

September 30, 2022

Via: Insurance Business

This week, nine new insurtechs have joined the annual cohort program for Lloyd’s Lab. COVU hired a number of new executives. Cover Whale unveiled two new technology platforms. Stere raised a seed financing round. Marsh McLennan’s Guy Carpenter arm will […]


InsurTech

Tensorflight partners with Airbus to boost property assessment capability

July 15, 2022

Via: Reinsurance News

Tensorflight, the AI imaging based insurtech, is partnering with Airbus Defence and Space to increase its property analysis and assessment capabilities. Tensorflight uses three sources of imagery – satellite, aerial and ground level – to automate the process of property […]


InsurTech

The Insurance Data War: How Old School and New School Can Live in Harmony

April 11, 2022

Via: Insurance Journal

Old school vs. new school. Every so often, a debate echoes down the corridor of time as the disrupters of the status quo burst on the scene with novel ways of doing things, while the established players cling to the […]


InsurTech

Descartes & Reask partner on AI-powered parametric cover

February 28, 2022

Via: Reinsurance News

Descartes Underwriting, a parametric-specialized provider of corporate insurance against nat cat and climate risks, has formed a new partnership with Reask, a tropical-cyclone risk analytics firm. The collaboration aim to expand parametric cyclone insurance into new locations by combining wind […]


InsurTech

Insurtech Reask Gets Funding to Deliver Next-Generation Natural Disaster Modeling

January 20, 2022

Via: Insurance Journal

Insurtech Reask, an Australian science and technology company that focuses on natural hazard modeling, announced it has closed its seed funding round, led by Tencent, the global technology giant headquartered in China. The funding will support the next stage of […]


News

Lemonade to acquire Metromile as auto insurer’s valuation falls to $500m

November 9, 2021

Via: Reinsurance News

AI-powered insurtech Lemonade has entered into a definitive agreement to acquire pay-per-mile auto insurer, Metromile Inc., in an all-stock transaction that implies a fully diluted equity value of roughly USD 500 million, or just over USD 200 million net of […]


InsurTech

Russia Tech Giant Yandex Uses AI to Reward Safe Drivers With Insurance Discounts

November 2, 2021

Via: Insurance Journal

Russian tech giant Yandex plans to reward responsible drivers on its car-sharing platform with cheaper insurance this year, it told Reuters, using machine learning in a pilot program similar to one already adopted by Tesla. Newly listed Renaissance Insurance has […]


InsurTech

How Is AI Revolutionizing Insurance?

April 16, 2021

Via: TechBullion

AI is revolutionizing all fields of life, and the insurance industry is no exception. Insurance firms can automate various manual activities with AI and machine learning, driving higher customer loyalty and providing their services quicker. According to Google Trends, since […]


InsurTech

Applied Analytics Isn’t Just for Insurers. Startups Help Claimants Get In On the Action

April 9, 2021

Via: Insurance Journal

Lee Fogle reached down to save his 12-lb. Yorkshire terrier Nemo as a pit bull lunged forward. The attacking dog’s jaws clamped onto his left hand, sending him to a clinic for sutures and starting a 10-month-long insurance battle. “It […]


InsurTech

Analysis predicts insurtech premium will exceed $556bn in 2025

March 1, 2021

Via: Reinsurance News

A new study by Juniper Research has found that the total value of premiums generated by insurtech firms will exceed $556 billion in 2025, a 123% leap from the $250 billion seen in 2020. Juniper Research’s analysis also predicts that […]


Cyber Risks, Risk Management

Viewpoint: Cyber Insurance Policies Are Challenging to Underwrite. AI Can Help.

January 20, 2021

Via: Insurance Journal

Advancements in artificial intelligence are in many ways a double-edged sword for the cyber insurance industry. Increasingly diverse and sophisticated cyber attacks have dramatically increased the demand for cyber coverage, offering a lucrative opportunity for insurers to capitalize upon. However, […]