The United States faces a growing challenge in securing affordable flood insurance as severe weather events become more frequent due to climate change. Flooding no longer threatens only coastal areas but increasingly impacts urban and inland regions. The result is a widening insurance protection
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.
In the rapidly evolving insurance industry, innovation in risk assessment and management stands as a pivotal theme. The integration of cutting-edge technologies and methodologies, particularly through the work of industry experts like Paraskumar Patel, is transforming how insurers evaluate and
The Vehicle Risk Rating (VRR) system, developed by Thatcham Research, is set to overhaul the current car insurance framework by providing a more precise and dynamic assessment of vehicle-related risks. Billed as a significant advancement over the traditional group rating system, VRR offers an
In a significant strategic maneuver, Moody’s Corporation has acquired Praedicat, a renowned casualty insurance analytics firm. This acquisition is poised to bolster Moody’s offerings, specifically within the casualty and liability market. By integrating Praedicat’s predictive analytical tools and
The Hartford Steam Boiler Inspection & Insurance Co. (HSB) has undergone a transformative journey, evolving from its original focus on steam boiler inspections to becoming a leader in technology-driven risk management and insurance solutions. This remarkable transition is a central topic in the
