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
The insurance sector, once known for its adherence to tradition, is undergoing a significant transformation with the integration of artificial intelligence (AI). A recent study by Conning Insurance Research reveals that a striking 77% of insurers have adopted AI-driven solutions, marking a 16%
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
The U.S. insurance market is on an impressive growth trajectory, with predictions suggesting it could swell to $2.83 trillion by 2029. This expansion represents a Compound Annual Growth Rate (CAGR) of 6.95%. It's the strength of both the life and non-life insurance sectors that is driving this
Falvey Insurance Group has recognized the changing insurance landscape for various industries and responded by creating an innovative Commercial Output insurance product. This new offering targets the unique challenges faced by sectors such as manufacturing, institutional, industrial, and commerce.
The health of the US commercial insurance sector is reflected through the pattern of policy pricing changes. Recent data from WTW's Commercial Lines Insurance Pricing Survey (CLIPS) for Q4 2023 highlights a significant rise in prices, now exceeding 6%, which marks a clear increase compared to
