Industry News
Tech Bytes: New Partnerships at ZestyAI, WTW, Driver Technologies
Climate and property analytics provider ZestyAI's Z-FIRE wildfire risk analytics product is going to be used by the California FAIR Plan Association, the state's property insurer of last resort, to ...
Progressive in a Better Place With Reserve Boosts Done, CEO Says
Shoring up loss reserves and adding "the premium equivalent" of a top 8 personal auto insurer to its books has put Progressive in a better place now than it was at the end of the second quarter. The ...
Allianz X, Allstate Fund NEXT Insurance’s $265M Financing Round
The digital investments arm of global insurer and asset manager Allianz Group, Allianz X, announced an investment in NEXT Insurance, a small business insurer in the United States, to accelerate ...
Threat of Haywire AI Prompts Calls for Development Pause, AXA Says
Governments are ill-prepared for the hazards brought on by artificial intelligence and development should be paused, according to a new survey of risk specialists by insurance company AXA SA. Only 7 ...
P/C Cycle Act 3: Reinsurance-Driven GL Hard Market
Comparing recent conditions in the property/casualty insurance and reinsurance markets to a three-act play, the chief executive of Arch Capital Group predicted hard casualty pricing ahead in the ...
U.S.-Led Alliance of 40 Countries Vow to Deny Ransom Payments to Cybercriminals
Forty countries in a U.S.-led alliance plan to sign a pledge never to pay ransom to cybercriminals and to work toward eliminating the hackers' funding mechanism, a senior White House official said on ...
InsurTech Hippo Lays Off 20% of Employees
InsurTech Hippo Holdings said it has "initiated an organizational realignment" by laying off about 120 employees, or 20 percent of its workforce. The company said in a filing with the U.S. Securities ...
Ending Polarization and Building Future Leaders: Travelers CEO
Challenges facing today's business leaders include keeping pace with rapid change, the leader of Travelers said recently while also going out of his way to cast light on a serious obstacle to forward ...