Industry News
Why ADAS Drives Claims Severity Higher (It May Not Be What You Think)
When auto insurance executives talk about claims severity trends across the industry, a common theory they advance is that repairs on vehicles with expensive advanced driver-assistance systems ...
Tech Bytes: New Partnerships at Co-operative Insurance Companies, BTV, RepairPal
Betterview, an InsurTech serving property/casualty insurance companies, announced that Co-operative Insurance Companies selected Betterview's Remote Property Intelligence Platform to help reduce ...
Travelers Leaning Into AI, Tech as Earnings Rise
Reviewing the 2021 highlights of both a final quarter and a year that saw Travelers deliver double-digit returns-on-equity, the company's chief executive focused on technology investments aimed at ...
American Financial Group Acquires InsurTech Verikai in $120M Deal
American Financial Group (AFG) acquired Verikai Inc., a machine learning and artificial intelligence company that utilizes a predictive risk tool for assessing insurance risk, effective December ...
How Zurich Commercial Uses Underwriting Discipline to Find Profit in Any Market
Zurich Insurance Group has worked hard to turn around its financial results over the past five years by bringing underwriting back to the organization, with a greater focus on selecting the right ...
InsurTech Accelerant Raises More Than $190M in Latest Funding Round
InsurTech Accelerant raised more than $190 million at a $2 billion pre-money valuation in its latest funding round. The round was led by Eldridge, with participation from Deer Park, Marshall Wace, ...
Florida Power & Light Class Action Opens Door to Subrogation, Future Storm Claims
A Miami judge's certification of a lawsuit against Florida's largest utility company as a $10 billion class action, with damage claims from more than 4 million people who lost power in Hurricane ...
Loss Experience Drives Prices During January Reinsurance Renewals: Fitch
Loss-affected lines of business, such as property catastrophe in Europe, cyber or retrocession, continued to see significant price increases during the January 2022 reinsurance renewals, while ...