This post is co-authored with Sundeep Sardana, Malolan Raman, Joseph Lam, Maitri Shah and Vaibhav Singh from Verisk. Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry, empowering clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud, and makeContinue Reading
This is a guest blog post co-written with Jordan Knight, Sara Reynolds, George Lee from Travelers. Foundation models (FMs) are used in many ways and perform well on tasks including text generation, text summarization, and question answering. Increasingly, FMs are completing tasks that were previously solved by supervised learning, whichContinue Reading
Generative AI applications are gaining widespread adoption across various industries, including regulated industries such as financial services and healthcare. As these advanced systems accelerate in playing a critical role in decision-making processes and customer interactions, customers should work towards ensuring the reliability, fairness, and compliance of generative AI applications withContinue Reading
This post is co-authored with Nishant Gupta from InsuranceDekho. The insurance industry is complex and overwhelming, with numerous options that can be hard for consumers to understand. This complexity hinders customers from making informed decisions. As a result, customers face challenges in selecting the right insurance coverage, while insurance aggregatorsContinue Reading
Underwriting is a fundamental function within the insurance industry, serving as the foundation for risk assessment and management. Underwriters are responsible for evaluating insurance applications, determining the level of risk associated with each applicant, and making decisions on whether to accept or reject the application based on the insurer’s guidelinesContinue Reading
Joe Hendrickson/iStock Editorial via Getty Images The Consumer Financial Protection Bureau ordered Fifth Third Bank (NASDAQ:FITB) to pay $20M in penalties in addition to compensating ~35,000 harmed consumers, including ~1,000 who had their cars repossessed, for a range of alleged illegal practices, the regulator said on Tuesday. Fifth Third (FITB)Continue Reading
Olivier Le Moal The Medicare Advantage market recorded the strongest gross margins in the health insurance industry last year, according to the independent healthcare policy organization KFF. Following an analysis of the sector’s financial performance in 2023, the non-profit said this week that private payers serving the federally funded programContinue Reading
utah778 Morgan Stanley analysts expect auto insurance inflation to decelerate at the start of the second half of the year. Insurance (NYSEARCA:KIE), (NYSEARCA:IAK), especially in Auto, has been a persistent driver of U.S. inflation, but U.S. insurance analysts for Morgan Stanley said insurers’ losses are decreasing, “suggesting that companies haveContinue Reading
Renasant Corporation (NYSE:RNST) on Tuesday announced that it sold the assets of Renasant Insurance to Sunstar Insurance Group. Sunstar is a regionally focused insurance broker, risk management consultant, and provider of employee benefits coverage and other human capital solutions based in Memphis, Tennessee. Now a part of Sunstar, Renasant InsuranceContinue Reading
PARIS, France, July 2nd, 2024, Chainwire Athena Ins is transforming the decentralized insurance landscape with its advanced protocol, providing users with the means to insure against decentralized finance (DeFi) risks. This innovative platform allows individuals to subscribe to insurance coverage protecting their DeFi investments from various threats, including hacking, smartContinue Reading
