Digital Insurance’s Post

Insurance experts, we want to know if you think existing business interruption or cyber policies will cover some of the losses due to the worldwide IT outage that is affecting banks, airlines, hospitals and more? What will be some of the factors to consider on whether or not there is coverage? What kind of liability could there be for CrowdStrike or Microsoft?

Abhishek Peter, manager of digital marketing at FECUND Software Services, names seven tech trends that are reshaping the future of data analytics and AI in insurance. “The insurance industry has always been data-intensive, but with the rapid advances in data analytics and artificial intelligence (AI), the landscape is transforming at an unprecedented pace,” Peter writes. “New technologies are enabling insurers to harness vast amounts of data to improve accuracy, efficiency, and customer experience.” https://bit.ly/3zUdrfR #insurtech #AI #dataanalytics

 A seemingly quiet hurricane season turned deadly over the last two weeks as hurricanes Helene and Milton swept across Florida and parts of the Southeast, leaving residents without homes, water, electricity and their livelihoods.

Ledger, Oyster® and Ledgebrook are among the insurtechs with the largest amount of VC investment in September 2024. Read here for more about the top insurtech funding events. https://bit.ly/48iKFCF #insurtech #insurance

In the latest Dig In podcast, Jason Turner, founder, president, and CEO of the Venbrook Group, speaks about how mergers and acquisitions are carried out, and how these work in the insurance business. “The insurance business is a people first business. Business relationships matter and the longevity of those relationships that equate to recurring revenue is always an important factor,” Turner said. https://bit.ly/3YfZ6Uw #MergersandAcquisitions #insurance

In the aftermath of Hurricane Helene, the estimated losses range from $30.5 billion to $47.5 billion, making it one of the deadliest hurricanes since Katrina. With Hurricane Milton approaching, the challenges for insurers and affected communities are mounting. As FEMA's National Flood Insurance Program FEMA prepares to provide essential recovery aid, companies are grappling with managing resources amid increasing risks and potential fraudulent claims. Explore the complexities of storm recovery, from policy coverage issues to rebuilding efforts.

60% of women surveyed by MetLife for its Triangle Tech X report expressed interest in STEM careers. More women in STEM careers would make a difference in industries like insurance, according to Bill Pappas, MetLife's global head of technology and operations. "Greater representation of women in tech roles can have a positive impact not only on the employee experience for those working in the industry, but also the industry itself,” he said. “Greater representation of women can foster innovation, create more inclusive products, address ethical concerns in AI and contribute to a more balanced, diverse, and successful workplace.” https://bit.ly/3Nj2LKT #insurance #WomenInSTEM #STEMcareers

Devoted Health, Gusto, and Coalition, Inc. are among the largest unicorns by valuation in Q2. Check out the rankings for more about the top deals. https://bit.ly/3BKnZP7 #insurance

Self-service life insurance through online platforms is easier than ever, writes Keith Wallace, senior benefits practice leader, PCF Insurance Services. “While some may be skeptical of the types of life insurance carriers that are accessible through these new tools, you will likely be happy to know that many of the carriers participating are the same ones accessible through a licensed insurance professional or by calling a 1-800 service,” he writes. “DIY life insurance tools enable direct communication for any underwriting questions or requirements.” https://bit.ly/4eCL5pM #lifeinsurance #insurtech