Technology & Analytics
American Family Using Smartphone App in UBI Driver Safety Program
The average driver spends more than 10 percent of every trip using a smartphone, according to TrueMotion, a technology company that has teamed up with American Family to improve driver safety and ...
State Farm to Displace 4,200 Workers and Exit 11 Locations
State Farm Mutual Automobile Insurance Co., the largest U.S. home and auto insurer, plans to shut 11 U.S. facilities, displacing about 4,200 workers, after a $7 billion annual underwriting loss last ...
Nationwide, Markel, Munich Re Help Back Next Insurance’s $29M Funding Round
Digital Insurance startup Next Insurance nailed down $29 million in Series A funding, with an investor roster that underscores how many old-school carriers are hedging their bets on technology-fueled ...
Aon to Expand Focus on Data, Analytics After Sale of Outsourcing Platform
Aon has completed the $4.3 billion cash sale of its benefits administration and HR business process outsourcing platform to Blackstone-affiliated private equity funds. The sale will generate up to ...
Insurance Startup Root Hires Ex-State Auto Exec Powell as Its CFO
Insurance startup Root is tapping a former State Auto executive Cindy Powell as its chief financial officer. Powell had been at State Auto Insurance Companies for 26 years, and served as its first ...
InsurTech Developer OmniEarth Acquired by EagleView
OmniEarth, a developer of learning technologies and decision-making tools for insurance and other industries, has been acquired. The buyer: EagleView, a provider of aerial imagery and data analytics ...
Valen Summit Takeaway: Insurers Unsure of Who Their Customers Are
Explosive growth in InsurTech, efforts to engage a more demanding, younger consumer base, and ongoing regulatory concerns have combined to create significant hurdles across insurance. When these ...
Commercial Lines Insurers Plan Predictive Modeling Embrace: Willis Towers Watson
Predictive modeling is becoming even more widespread among U.S. property/casualty insurers, with rapid gain likely in the coming years for commercial lines carriers. The big news: Two-thirds of the ...