CTO / Technology
Allstate’s Esurance Debuts Pay-Per-Mile Auto Insurance
Allstate-owned Esurance has begun marketing auto insurance for which consumers essentially pay by the mile. The new product is called "Esurance Pay Per Mile," coverage enabled by a small telematics ...
Slowly But Surely, Insurers are Turning to Mobile and Big Data
Insurers are increasingly investing in new technology areas such as mobile and big data along with the usual legacy system updates, Novarica found in its latest annual study of U.S. insurer IT ...
Allianz, AIG, Others Start Commercial Drone Insurance Association
Allianz and AIG partnered with a major aviation insurer, a specialized broker and an attorney to launch a new trade association focused on the surging commercial drone industry. The Unmanned Aircraft ...
Russian National Sentenced in ‘Citadel’ Malware Cyber Crime Scheme
A Russian national was sentenced on Tuesday to 4-1/2 years in U.S. prison for using sophisticated malware known as "Citadel" to steal banking information from thousands of computers, authorities ...
Why Build Your Own Cat Model?
Insurers are using the new open loss modeling platforms to build their own catastrophe models for three main reasons: clarity, control and cost. Catastrophe models have become extremely important ...
Cyber Security Field Faces Worsening Gender Gap and Workforce Shortage
Women account for just one out of 10 cyber security professionals, as the gender gap widened over two years in a male-dominated field with a drastic workforce shortage, a survey showed. ISC2, the ...
ACE Buys 24% Stake in Tech Outfit Developing Online Commercial Insurance Platform
CoverHound has raised $33.3 million in a financing round led by ACE Group, which the company plans to use to build an online commercial insurance platform starting with businessowners policy ...
Towers Watson Embraces the Cloud with $15M Canadian Tech Company Acquisition
Towers Watson will buy up a Canadian tech company for more than $15 million. The deal is designed to boost its insurance technology/cloud computing offerings for property/casualty carriers as well as ...