Artificial Intelligence (AI)
European insurtech startup, BirdsEyeView, secures investment for climate-ready solutions
London-based insurtech startup, BirdsEyeView, has secured a significant seven-figure investment to boost its digital underwriting and natural catastrophe (NatCat) modelling software.
Insurance broker Miller unveils AI tool MillerMo
Miller, a prominent specialist (re)insurance broker, has announced the launch of MillerMo, an AI tool powered by Microsoft and OpenAI technologies.
Insurwave acquires AI technology from EY
Insurwave, a London-based insurtech platform, has acquired cutting-edge machine-learning technology from EY.
Pineapple secures £25m in funding, revolutionising South Africa's insurance industry
Insurtech firm Pineapple has secured R400m (£25m) in funding, setting a new record for the largest insurtech fundraised on the African continent.
Majesco Copilot: revolutionising insurance software with generative AI
Majesco, a cloud insurance platform provider, has unveiled Majesco Copilot, a solution powered by cutting-edge Microsoft Generative AI technology.
Artificial Intelligence industry to reach half a trillion dollars by 2027
The AI industry has witnessed remarkable growth in recent years, expanding by 80% year-over-year to reach a value of $241 billion in 2023, according to data presented by AltIndex.com.
Sprout.ai secures £5.4m funding to revolutionise insurance claims with generative AI
London-based insurtech firm, Sprout.ai, has secured £5.4 million in funding from a consortium of global investors led by Amadeus Capital Partners and Praetura Ventures.
Microsoft and FRISS collaborate on AI fraud explanations
FRISS, a leading provider of trust automation solutions for P&C carriers, has collaborated with Microsoft to use Microsoft Azure OpenAI Service to enhance its AI fraud model explanations.
Sapiens launches Decision Model.AI to enhance automation speeds
Sapiens, a leading global provider of software solutions for the insurance industry, has launched Decision Model.AI, a generative AI solution to transform business decision models.
Endava and Binah.ai partner to enhance health and wellness monitoring
Binah.ai, a leading provider of AI-powered health and wellness monitoring solutions, and Endava, a global digital transformation company, announced a new partnership to develop and deliver enhanced health and wellness monitoring solutions.
mea appoints UK managing director to drive UK growth
mea, the AI-powered processing platform for the global insurance industry, has announced the appointment of Graeme Asquith as UK managing director.
Measured Analytics and Insurance launches CyberGuard 2023, an AI-driven cyber insurance product for SMEs
Measured Analytics and Insurance (Measured), a leading U.S.-based cyber insurance MGA, has launched its latest cyber insurance product, CyberGuard 2023.
AXA Commercial uses AI to identify RAAC-affected buildings
AXA Commercial has used artificial intelligence (AI) to identify buildings that may be affected by reinforced autoclaved aerated concrete (RAAC).
Markel boosts underwriting productivity by 113% with Cytora partnership
Markel, a leading speciality insurer, has announced a 113% increase in underwriting productivity following its partnership with insurtech firm Cytora.
Planck launches game-changing AI-powered underwriting tool
Planck, a leading provider of underwriting solutions, has launched a new tool that leverages Generative AI (GenAI) to revolutionise the underwriting process.
Obie and Home365 Partner to simplify landlord insurance buying
Obie, a leading insurtech company, has announced a new partnership with Home365, a property management and investing service provider for real estate owners.
UK insurtech Stoïk secures $10.7m in funding
In a significant development for the UK insurtech sector, Stoïk, a leading player in the industry, has successfully secured $10.7m in new funding.
Akur8 and Wüstenrot Gruppe partner to boost insurance pricing capabilities in Austria
Akur8, a provider of risk modelling and rate-making platforms for insurers, and Wüstenrot Gruppe, a leading Austrian financial services group, have announced a new partnership to boost Wüstenrot's pricing capabilities in Austria.
AI in insurance: Customers value trust and transparency over speed
A new survey, conducted by claims automation insurtech Sprout.ai in collaboration with YouGov, polled over 4,400 UK and US consumers.
Swiss insurer Mobiliar implements ChatGPT for employees
Swiss insurer Die Mobiliar announced that it has implemented ChatGPT, a large language model chatbot developed by OpenAI, for its employees.