News
BizCover introduces AI chatbot Frankie
SME online insurance specialist BizCover has been piloting an artificial intelligence chatbot, Frankie, as it looks to pursue efficiencies through technology.
November 29, 2021
3:37 pm
SME online insurance specialist BizCover has been piloting an artificial intelligence chatbot, Frankie, as it looks to pursue efficiencies through technology.
With coverage by Swiss Re Elevate, the offering initially targeting the U.S. hospitality, manufacturing, professional services, real estate and wholesale/retail segments through brokers.
For as much coverage and discussion as telematics has received over the past two decades, its impact on the auto insurance economy, including transportation, is going to be even greater and further reaching than many may have thought – it will be transformative in the fullest sense of the word.
Re/insurance broker Willis Towers Watson (WTW) and software provider CodeEast have announced a global partnership offering a new digital transformation solution for insurance companies and MGAs.
The round was led by iAngels and Menara Ventures, which will help the company expand its activities in the U.S. market.
As the cyber risk environment evolves from occasional data theft to rampant extortion, cybersecurity experts believe that the current cyber insurance model – where policies are easily accessible – is ripe for a change.
SME online insurance specialist BizCover has been piloting an artificial intelligence chatbot, Frankie, as it looks to pursue efficiencies through technology.
Reale Vida, the Reale Group’s Spanish insurer, has partnered with Munich Re to implement automated underwriting across its life insurance operations in Spain.
Zurich UK is launching what it calls an “industry-first” drive to help homeowners and businesses better protect themselves against the mounting risk of flood.
Lloyd’s Disaster Risk Facility (DRF), an initiative with more than $445 million of notional capacity designed to help economies, has launched the first retail parametric cyclone insurance product in Northern Australia as the country awaits the cyclone season.
AXA XL has launched a new online Disaster Recovery Hub comprised of more than 100 major disaster case studies in partnership with the Cambridge Centre for Risk Studies at Cambridge Judge Business School.
Aventus has launched a digital underwriting platform for standard and complex insurance products.
The round was led by iAngels and Menara Ventures, which will help the company expand its activities in the U.S. market.
Founded in 2019, Continuity, uses AI to help insurances improve underwriting for SME’s. The insurtech company has just bagged a funding boost of €5 million from Elaia Partners, Bpifrance, and Kamet Ventures.
Homeowners insurtech Slide has announced it has raised $100 million in a Series A funding round, led by Gries Investment Funds and Tampa Bay Ventures.
The funding, which comes just three months after a $6 million Series A round, will drive expansion of Vesttoo’s Insurance-Linked Program (ILP) offering, a security-based investment portfolio, as well as its fully digital marketplace for insurance-based risk transfer and investments
French startup Leocare has raised a big Series B funding round led by Eight Roads. Overall, the company has raised $116 million. It’s an equity and debt round, which means that part of this amount is a cash-for-equity transaction, while the rest is a credit line.
Resilience, an industry leader in cyber insurance and security solutions, announced today that it closed an $80 million Series C funding round, co-led by General Catalyst and Corey Thomas of Rapid7, with participation from Lightspeed Venture Partners, Founders Fund, Charles River Ventures, Shield Capital, and Intact Ventures.
For as much coverage and discussion as telematics has received over the past two decades, its impact on the auto insurance economy, including transportation, is going to be even greater and further reaching than many may have thought – it will be transformative in the fullest sense of the word.
As the cyber risk environment evolves from occasional data theft to rampant extortion, cybersecurity experts believe that the current cyber insurance model – where policies are easily accessible – is ripe for a change.
The words “insurance” and “innovation” are not typically used together. Today’s leaders are working to change that.
Insurers, which traditionally render services after catastrophes like earthquakes, hurricanes and wildfires, are busier than ever as climate risk becomes a genuine, dangerous possibility to many customers.
According to Zurich’s Chief Claims Officer Ian Thompson, the company is seeing evidence that consumers are choosing to file in-person claims rather than use the digital options available to them.
Despite seeming reluctant to make sweeping changes, the insurance industry continues to be at the forefront of adopting digital solutions.
Metromile’s auto insurance offerings are informed by a decade’s worth of data, which should improve the quality of the newly-introduced product, Lemonade Car.
Verisk Analytics, the global data analytics firm, has acquired North Carolina-based Data Driven Safety to expand its automobile insurance underwriting data business, Verisk announced.
Moody’s Corporation and RMS announced today that they have entered into a definitive agreement for Moody’s to acquire RMS, a leading global provider of climate and natural disaster risk modeling and analytics, for approximately $2.0 billion from Daily Mail and General Trust plc.
Willis Towers Watson has entered into an initial, non-binding agreement to acquire Leaderim, an insurance broking and consultancy business in Israel.
Insurance broker Willis Towers Watson (WTW) has signed a non-binding agreement to acquire Israel-based insurance broking and consultancy business Leaderim.
Pie Insurance will acquire a regional insurer as it moves forward with a bid of becoming a full-stack insurance carrier.
Lemonade, the insurance company powered by AI and social good, today announced the appointment of Sean Burgess as Chief Claims Officer.
Digital home insurer Hippo hired a former Hiscox executive to be its first Chief Claims Officer, with a mission to expand claims operations for the now publicly-traded California-based InsurTech as it grows nationally.
Mark Bernacki – who most recently served as executive vice president of Amwins Group’s underwriting division and president of Amwins Special Risk Underwriters – has now become the first chief underwriting officer at Amwins.
Progressive Insurance has announced the appointment of Remi Kent as chief marketing officer, effective November 01. Kent will succeed Jeff Charney, who in March announced his intention to retire.
Global reinsurer MS Amlin AG announced the appointment of Robert Wiest as chief executive officer. Wiest will take up the role on Jan. 3, 2022 and will be based in Zurich, Switzerland.
AXA UK has named Willis Towers Watson (WTW) manager David Ovenden (pictured) as the new chief underwriting officer for its commercial business, succeeding long-time executive David Williams, who will be leaving at the end of the year.
For as much coverage and discussion as telematics has received over the past two decades, its impact on the auto insurance economy, including transportation, is going to be even greater and further reaching than many may have thought – it will be transformative in the fullest sense of the word.
As the cyber risk environment evolves from occasional data theft to rampant extortion, cybersecurity experts believe that the current cyber insurance model – where policies are easily accessible – is ripe for a change.
With road testing of driverless vehicles now underway across North America, and more pilots on the horizon, it’s no wonder property and casualty insurers and industry experts are increasingly discussing the changing risk landscape.
The cyber insurance industry experienced 33.5% growth in 2020 alone as companies have sought to mitigate the cyber risk presented by the new reality of the constantly growing cost of a data breach.
The convergence of insurance and digital technology — “insurtech” — has transformed the industry. Although insurance companies initially feared insurtechs would whittle away at their market share, partnering with these disruptive tech firms is now widely seen as the catalyst necessary to spur growth and accelerate the development of new insurance products. But challenges remain.
Global reinsurance giant Swiss Re and Chinese tech giant Baidu have partnered to advance insurance and risk management for autonomous driving and autonomous vehicles.
Metromile’s auto insurance offerings are informed by a decade’s worth of data, which should improve the quality of the newly-introduced product, Lemonade Car.
According to McKinsey, 22 percent of cross-industry enterprises already attribute 5 percent+ of their EBIT to AI. And HBR estimates that AI will add $13 trillion to the global economy over the next decade.
While Artificial Intelligence (AI) has gained traction with enterprises in other industries, insurance providers have been slower to adopt. In 2016, research by Deloitte noted that less than 2 percent of insurance companies were currently investing in artificial intelligence technologies.
The insurance industry is in the early stages of understanding artificial intelligence (AI) algorithmic risks but there are widespread repercussions from technology failures, a white paper produced by Zurich and Microsoft says.
Thanks to four trends, AI can improve efficiency and cycle time and meet policyholder expectations for a streamlined, digital auto claims experience.
Today we spoke with Apollo’s Jeff McCann and Berkley Canada’s Alexandra Spence about what the ‘Amazon’ insurance experience could look like – from embedded insurance to platform ecosystems, distribution is fundamentally changing.
The words “insurance” and “innovation” are not typically used together. Today’s leaders are working to change that.
According to Zurich’s Chief Claims Officer Ian Thompson, the company is seeing evidence that consumers are choosing to file in-person claims rather than use the digital options available to them.
Despite seeming reluctant to make sweeping changes, the insurance industry continues to be at the forefront of adopting digital solutions.
When we say “core systems” in our industry, we are typically referring to the critical software applications that are core to an insurer’s business operations, mainly the policy, claims and billing management functions.
The cyber insurance industry experienced 33.5% growth in 2020 alone as companies have sought to mitigate the cyber risk presented by the new reality of the constantly growing cost of a data breach.
2021 saw widespread vaccine deployment and easing of pandemic-related restrictions—important catalysts that helped rebuild confidence among people and businesses alike, while fueling economic recovery.
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