The insurance sector is poised for groundbreaking change with the rise of usage-based insurance (UBI) offerings, fundamentally revolutionizing the way risk is measured. Telematics, the innovative technology behind UBI, enables a more fluid, data-centric approach to insurance underwriting. A recent
The rise of telematics in vehicles has reshaped auto insurance, promising rates reflective of individual driving behavior. However, this innovation is now under scrutiny due to privacy concerns. Personalized rates based on safe driving sound ideal, but at what cost to privacy? These questions are
Insurance companies, tasked with safeguarding vast amounts of personal and financial data, face the constant threat of cyberattacks. Now more than ever, they must evolve and offer digital solutions while protecting the confidential information they steward. This critical balance involves overcoming
Nordic Capital has made a major investment in One Inc, a cutting-edge digital payments platform transforming insurance transactions. This strategic move by Nordic Capital, an investor with a robust portfolio in Technology & Payments, suggests a strong belief in the digital payment sector's
The U.S. Department of Health and Human Services is actively addressing a major cyberattack on Change Healthcare, a key player in the health sector and part of UnitedHealth Group. This breach has significantly shaken the American healthcare system, highlighting the crucial role of cyber defenses in
The insurance sector, traditionally prudent and dependent on tried-and-true methods, is facing a pivotal shift. Robotic Process Automation (RPA) has emerged as a catalyst for rethinking how things are done, standing out in a digital landscape where innovation is constant. RPA is rapidly becoming
Amid a tech transformation, Colorado has become a trailblazer by instituting pioneering regulations for the ethical deployment of AI in life insurance. These rules are a preventative measure against the encoding of biases, particularly racial, within AI systems. They symbolize a major stride in
For insurance firms, decoding customer behavior is vital for creating customized products, boosting service quality, and fostering active customer interaction. To proficiently monitor and adapt to customer trends, insurers should implement a systematic strategy. This involves collecting and
Oregon State University (OSU) invests in robust risk assessment methods to empower its decision-making capabilities. With the myriad challenges it faces, the university offers targeted tools to enable thorough risk analysis. These resources aim to assist university staff in pinpointing,
Insurance fraud is an intentional act committed to deceive insurance companies or agents for illegal financial gain. This article offers insight into the severe impact of this crime and differentiates between 'hard' and 'soft' insurance fraud. The former involves outright fabrications, like staging
