With the surge in climate-related disasters, property insurance markets in areas with high risk are crumbling. Conventional threat assessments that rely on historical records or zip-code specifics are leaving countless individuals without affordable options. Currently, AI-powered risk models are
Embarking on international travel can be particularly daunting for senior travelers, especially those with pre-existing medical conditions. As the rate of elderly travelers steadily increases, the critical need for comprehensive health coverage becomes more pronounced. In navigating this landscape,
In a shocking development, two lawsuits have been filed against major home insurance companies in California, including industry giant State Farm, alleging that these companies colluded to reduce coverage in high wildfire-risk areas. Homeowners claim that this forced them onto the state’s FAIR
Stanhope Insurance, a subsidiary of the Ardonagh Group, has unveiled an innovative comparison platform specifically tailored for insuring luxury valuables such as jewelry and fine art. Leveraging Mendix's low code solutions, this platform addresses a significant market gap with its bespoke approach
Homeowners in Massachusetts are increasingly facing nonrenewals of their insurance policies despite the state’s reputation for being relatively safe from natural disasters. This year, nonrenewal rates have notably increased to 1.51%, which, compared to previous years, is a clear reflection of
Digital healthcare has revolutionized the medical field, offering numerous benefits such as enhanced patient care, convenience, and accessibility. However, this transformation to telemedicine and digital health platforms has brought about new and complex liabilities that need to be addressed. CFC,
A data breach at the insurance firm Lemonade has exposed the driver’s license numbers of thousands of people over a period of 17 months. The New York-based company disclosed the security incident, which occurred in both 2023 and 2024, due to a vulnerability within its online application process.
In the modern digital age, the insurance industry is experiencing a transformative evolution driven by artificial intelligence (AI) and automation. Large national insurance firms have rapidly embraced AI, leveraging it to optimize client interactions, streamline underwriting processes, and enhance
The impact of weather-related incidents on property insurance has grown significantly, with natural disasters like wildfires and severe storms posing substantial threats to insurers. To combat these challenges, the collaboration between Cytora, a digital risk processing platform, and Vāyuh, an
Zurich Insurance Group, known for its global expertise in risk management, has made a notable investment in the Hungarian digital insurer Ominimo during its Series A funding round. This strategic move values Ominimo at €200 million (approximately $227.86 million), giving Zurich a minority share in
