The insurance industry today is navigating complex changes, notably rising premiums and AI innovations. Brokers must adapt to this rapidly evolving landscape to effectively serve their clientele. Here, experts from various segments of the industry provide their insights on the challenges and
The underutilization of artificial intelligence (AI) by insurance companies, despite significant investments, is highlighted in a new Boston Consulting Group (BCG) report. Insurers are encouraged to narrow their AI focus to specific high-value areas to enhance near-term profits and performance.
The evolving realm of machine learning algorithms, particularly those designed to process and interpret health data from wearable devices like smartwatches and fitness trackers, is drawing significant attention. These wearables are capable of detecting various bio-signals, which are physiological
In a pivotal move set to transform the mortgage lending industry, United Wholesale Mortgage (UWM) has joined forces with Google Cloud to integrate advanced technology into mortgage processes. The partnership focuses on leveraging Google Cloud's artificial intelligence and data analytics
The recent development at Northwestern University has resulted in the creation of a groundbreaking wearable device designed to measure gases emitted from and absorbed by the skin. This innovation, spearheaded by researchers John A. Rogers and Guillermo A. Ameer, represents a significant leap
Recent advancements in wearable technology have opened new avenues for monitoring various health parameters, especially for cardiovascular health. One of the most significant innovations is the development of “smart shirts” that can monitor heart-rate recovery (HRR). These smart garments are equ
Ever wondered why claims for cyber business interruption (BI) seem to drag on indefinitely, sparking heated disputes over their actual magnitude? The answer lies in a significant knowledge gap that has profound implications for the cyber insurance industry. In the ever-evolving landscape of cyber
Wearable technology is transforming the landscape of preventive health, offering unprecedented opportunities for continuous health monitoring, early disease detection, and personalized healthcare management. Fitness trackers, smartwatches, and advanced health sensors have enabled individuals to
The insurance industry stands at the crossroads of a significant evolution driven by technological advancements and the enduring preference for human interaction in customer service and claims adjusting. One of the main challenges faced by insurance companies is striking the right balance between
The escalating issue of fraud continues to plague ecommerce and retail businesses in North America, leading to significant financial and operational challenges. The latest LexisNexis True Cost of Fraud Study provides critical insights into these issues, shedding light on the financial burden of
