Technology
At Large
The Impact of Technology on Insurance: Past, Present and Future
Insurers can benefit by taking a quantitative approach to the impact of technology in the industry over time.
Date: April 2024
AI Question
Leading AI Platforms Disagree on Pinpointing Industry’s Most Pressing Issue
Artificial intelligence’s large language models have different takes on what is the single biggest issue facing today’s insurance industry.
Date: April 2024
Artificial Intelligence
AI-Powered Prying in Social Media Raises Ethical Concerns in Insurance
With social media turning life into an open book, the temptation to use artificial intelligence to gather lifestyle information is great when assessing risks or preventing fraud, insurance leaders say.
Date: April 2024
DUAEs: MGA Lab
InsurTech NY’s MGA Lab Helps Startups Become Fully Operational Digital MGAs
The organization’s co-founders say they have identified a growing need for digital MGAs.
Date: March 2024
Artificial Intelligence
NAIC Executive Committee Adopts AI Bulletin Leaving ‘Bias’ in Text
Kathleen Birrane of the National Association of Insurance Commissioners said at an executive committee meeting that the bulletin was created through a “highly collaborative” process, with amended drafts exposed in July and October and discussed in November 2023.
Date: February 2024
The Last Word
B.S.? B.A.? MBA? Technical Skills Can Enhance College Degree’s ROI and Career Prospects, Industry Leaders Say
Hiring in the insurance sector largely tracks the broader economy, but dynamics favor hiring among agents and actuaries over claims and underwriting, according to U.S. Labor Department data.
Date: February 2024
Spotlight: Regulation
North Dakota Commissioner: AI To Evolve in Underwriting While Targeting Bias
Jon Godfread says artificial intelligence can transform the industry, reaching deep into risk assessment and claims processing.
Date: January 2024
Spotlight: Cyberrisk
Linux Foundation: Insurers Should Take the Lead in Targeting Cyberrisk
Linux Foundation Chief AI Strategist Brian Behlendorf says hackers are uncovering new vulnerabilities to target global trade.
Date: January 2024
Spotlight: AI and Insurance
Institutes: AI’s Predictive Powers Can Personalize Insurance
Peter Miller, CEO and president of The Institutes, says artificial intelligence’s power can transform underwriting and the insurance workplace, but AI needs transparency to avoid poor outcomes.
Date: January 2024
The AI Revolution
Xceedance: What the AI Revolution Means for the Insurance Industry
The most successful companies will be those that keep technology, data and artificial intelligence at the center of designing and insurance operations, according to Arun Balakrishnan, chairman and chief executive officer.
Date: December 2023
Risk Adviser
Underwriting AI: Is It Aligned With Insurance Industry’s Best Interests?
Underwriters could find themselves attracted to an AI application that may appear useful. But that application could, in turn, prove to be damaging.
Date: December 2023
App Store
App Looks to Build a Connection Between Construction Industry and Insurance
Billy provides an app that bridges that gap between construction and insurance.
Date: December 2023
The AI Revolution
What the AI Revolution Means for Insurers, Insureds and the Insurance Workforce
Artificial intelligence is changing the way insurers do business, but it’s also presenting new challenges. AM Best TV interviewed industry experts in studio, at conferences and in the field throughout the year to discuss the technology, risk opportunities and potential regulatory issues.
Date: November 2023
The AI Revolution
What the AI Revolution Means for Insurance Prospects, Policyholders and Regulators
Artificial intelligence is likely to change the ways that insurers identify risk opportunities and develop products. It also presents new challenges for regulators.
Date: November 2023
The AI Revolution
How AI Is Remaking the Insurance Workforce
As the insurance industry moves to embrace artificial intelligence, it also struggles to answer the question: Will this new technology make jobs easier or just easier to replace?
Date: November 2023
The AI Revolution
How AI Is Remaking Insurance Organizations
Industry leaders discuss what functions insurers will handle substantially with the help of artificial intelligence as well as some best practices for integrating the technology.
Date: November 2023
Insurance Media
An Insurance Podcast That’s Awkward in Name Only
Insurance, by its very nature, is awkward, according to the hosts of Awkward Insurance. But their show also focuses on carriers, underwriters, and claims professionals who are looking to grow their businesses.
Date: November 2023
Insurance Media
‘Insurance Guys’ Driven To Help Other Agents—Without Boring Them
Scott Howell and Bradley Flowers have been keeping it real with listeners for more than six years.
Date: October 2023
App Store
Swiss Re Research Shows Apps Can Play an Important Role in Mental Health Support
Some people prefer the anonymity of interacting with artificial intelligence, rather than a human being, according to the insurer.
Date: October 2023
At Large
Data Is the Missing Piece in Insurance Wellness Programs
Information and engagement help create a sense of partnership with customers and lead to lower lapse rates.
Date: October 2023
Regulatory/Law
Court Definition of ‘Hostile’ Could Have Widespread Implications for War Exclusions
Insurers urged a broad reading of the word by the New Jersey Appellate Division to avoid coverage for a cyberattack on more than 40,000 machines in Merck’s global network.
Date: September 2023
App Store
Consumers Report Declining Satisfaction With Insurance-Related Apps
A recent J.D. Power study recommends insurers look to their banking peers for how to improve the digital experience.
Date: September 2023
At Large
Artificial Intelligence Is the Personal Assistant We Didn’t Know We Needed
The proliferation of information available today is more than mere mortals can handle, leaving AI as the best way to unlock the potential of ubiquitous data.
Date: September 2023
App Store
Sailing Toward Seamless Boat Rental Insurance With Digital App Navigation
Insurtech vQuip provides liability coverage for individual boat renters and a digital platform for managing specialty risks.
Date: August 2023
Insurance Media
Quest To Become Influencers Leads to Long-Running Insurtech Podcast
With more than 200 episodes in the can, the creators and hosts of FNO: InsureTech Podcast speak with AM Best TV about their side hustle, which involves interviewing industry leaders on how tech is changing the world of insurance.
Date: August 2023
App Store
App Aims To Protect Personal Electronic Devices Against Cyberattacks
WhiteHaX CyberSafe by HSB, a Munich Re company, identifies vulnerabilities and blocks viruses.
Date: July 2023
Emerging Leaders
Proposed Telemedicine App Would Locate Cheapest Meds Based on Insurance Coverage
The platform was designed by Hannah Youngblood, a risk management major at Florida State University and this year’s winner of AM Best’s Student Challenge.
Date: June 2023
The Last Word
Digital Technology Offers Alternative to Wildfire Risk Maps
Old-school modeling is being replaced by aerial and satellite imaging and artificial intelligence that identify risks to specific homes.
Date: June 2023
At Large
The Transformation Horizon: Tech Priorities for 2040
Participants in the ACORD survey Insurance 2040 identify application programming interface as the most impactful technology over the next 10 years, while AI and machine/deep learning will be priorities at the 20-year mark.
Date: May 2023
Insurtech
Eversheds Sutherland’s Partner: Insurers and MGAs Should Prepare in Case They Part Ways
Some insurtech-insurer relationships are winding down because they didn’t deliver on original expectations.
Date: May 2023
Insurtech
Counterpart’s CEO: ChatGPT, AI Leverage Repetition to Analyze Risk
Tanner Hackett says he sees innovation from distribution to claims and expects M&A activity to increase.
Date: May 2023
Innovation
AM Best: Innovation Efforts Differ Among Insurance Companies
A recent Best’s Special Report, Insurers Continue to Innovate, Albeit to Varying Degrees, describes ways companies adapt and modify operations in response to events, such as the COVID-19 pandemic.
Date: May 2023