Artificial intelligence (AI) is revolutionizing various industries, including the insurance sector, which has traditionally been slow to adopt new technologies. Historically seen as risk-averse and reliant on time-tested methods, insurers have often been hesitant to embrace innovations like AI.
Australia's largest insurance companies are facing mounting criticism for significantly raising premiums while posting record profits, leading to accusations of price gouging and contributing to inflation. In a climate where many Australians are already grappling with rising living costs,
In the second quarter of 2024, the U.S. commercial insurance market witnessed a marked deceleration in premium increases, representing a major shift in market dynamics largely propelled by the Council of Insurance Agents & Brokers' (CIAB) Commercial Property/Casualty Market Index for
Experiencing flood damage can be overwhelming, especially when you consider the financial impact and emotional toll it takes on homeowners. According to the Federal Emergency Management Agency (FEMA), even just an inch of water can cause as much as $25,000 in property damage, a staggering cost most
The insurance industry is undergoing a massive shift thanks to emerging technologies, and artificial intelligence (AI) is at the forefront of this transformation. Simplifai and Stillwater Insurance have recently embarked on a groundbreaking partnership to overhaul the traditional claims process.
In today’s fast-paced world, the insurance industry is ripe for transformation. The complexity and inefficiency have long been pain points for policyholders and companies alike. Andy Ann, the founder of Yas Digital, envisions a dynamic, data-driven approach to revolutionize insurance. By i
