The first half of 2024 saw a dramatic shift in the UK's InsurTech market, marked by a notable decline in investments. This trend comes amid a backdrop of economic uncertainty, driving more cautious investor behavior. Despite the overall downturn, pockets of growth still exist, as exemplified
The recent $5 million fine levied on BNY Mellon by the Commodity Futures Trading Commission (CFTC) has sent ripples through the financial industry, raising significant questions about the robustness of compliance frameworks in major institutions. The fine, resulting from non-compliance issues
The insurance industry is undergoing a remarkable transformation, driven by rapidly changing consumer preferences and technological innovations. Traditional notions of choosing the cheapest policy are being replaced by a growing demand for advanced technological enhancements that offer efficiency
In the dynamic insurance industry, companies are constantly seeking ways to streamline their operations and deliver exceptional customer experiences. One effective approach gaining traction is the automation of the insurance claims processing lifecycle using various AWS services. Key to this
In an impressive display of growth, the insurtech sector in Southeast Asia (SEA) experienced a significant surge in deal value, reaching USD 2.35 billion in 2023, according to a recent EY report. This fourfold increase has been driven largely by key transactions, bringing the sector into the
In 2023, the Southeast Asia (SEA) insurtech sector experienced an astonishing boom in deal value, soaring to $2.35 billion. This surge is remarkable, especially when juxtaposed with the deal value in 2022, which was significantly lower at $538 million. These figures have materialized despite a drop
Artificial Intelligence (AI) is transforming industries, and life insurance is no exception. In the realm of underwriting, AI is not just a tool; it's a catalyst driving efficiency, accuracy, and transformative change. This article delves deep into how AI is revolutionizing life insurance
Rhode Island is taking a significant step towards enhancing cybersecurity in the insurance sector with a new data privacy law set to take effect on January 1, 2025. This landmark legislation requires insurers to establish and maintain a comprehensive written information security program, which must
Navigating the continuously shifting risk landscape is becoming increasingly complex for Chief Risk Officers (CROs) in the insurance industry. With a myriad of financial and non-financial risks to manage, CROs are now pivotal in steering their companies towards sustained profitable growth. This
Auto insurance is a critical consideration for drivers, and the efficiency with which an insurance company handles claims can significantly impact customer satisfaction. The ability of an insurer to provide prompt and fair resolution to claims can turn an unfortunate situation into a manageable
