Analysis: State Farm Bolsters Surplus by Freeing Up Billions in Loss Reserves
Despite devastating California fires causing upward of $40 billion in losses for U.S. property/casualty insurers, the industry still managed an underwriting profit of ...
Claims & Reserving
Insurer Says Tech Services Firms Should Pay for Insured’s Ransomware Damages
ACE American Insurance Co. is suing to recover $500,000 it paid in ransomware damages to a staffing company, claiming cloud computing and cybersecurity firms contracted by its policyholder should ...
Reimagining Homeowners Insurance in the AI-Powered Claims Era
Historically, the insurance claims process was built on paper files, and that infrastructure has not fundamentally changed in more than 100 years. It's long overdue for a refresher. Even as carriers ...
Experts Explain How Agentic AI Is Changing the Way the Collision Industry Functions
The automotive collision industry, like so many other industries, is already tapping into the power and efficiencies of artificial intelligence, but as agentic AI ...
Is Bad Network Performance Impacting Your Claims Experience?
When insurance customers call to file a claim after a car crash or natural disaster, they expect answers—not a dropped call or buggy application. But IT performance ...
Solving the Claims Puzzle: How Insurers Are Automating One Process at a Time
The insurance industry continues to grapple with the twin pressures of claims inflation and natural catastrophes. While premium increases have helped offset some of these ...
Wildfire Experience Inspires New Contents Claims InsurTech
When Michael Balarezo emerged from the basement office of his Boulder, Colo., home in December 2021, smoke plumes from the nearby Marshall Fire were visible from his ...
As Execs Eye AI for Fraud Detection, Deloitte Predicts Billions in Savings
With a growing share of insurance executives viewing generative artificial intelligence as a tool for streamlining and improving functions like fraud detection, Deloitte predicts that AI technologies ...
Carrier Technology, Logistics Aid LA Wildfire Response
Earlier this year, as residents were evacuated due to wildfires fueled by Santa Ana winds in drought-ravaged parts of Southern California, commercial and personal lines ...
Beyond Automation: How GenAI Informs Next Best Action in P/C Insurance Claims and Underwriting
The insurance industry is increasingly adopting AI to streamline operations, automate tasks and improve customer experiences. But while AI automation, in particular, has ...