Property and Casualty (P&C) insurance companies are confronting a daunting challenge: the pervasive threat of fraud. This issue affects nearly 10% of claims, leading to an astronomical yearly loss that amounts to $122 billion. Such a significant burden necessitates an urgent focus on improving
The advent of artificial intelligence (AI) has significantly transformed industries, including the cyber insurance sector. However, new regulations governing the use of AI are creating fresh challenges and necessitating innovative solutions within the insurance domain. This article delves into the
In the ever-changing world of global trade, U.S. importers face numerous challenges, from geopolitical tensions and supply chain disruptions to fluctuating tariffs. These issues not only impact operational costs but also have significant implications for cargo insurance. The uncertainty surrounding
Loadsure, a UK-based insurtech firm, has embarked on a strategic expansion by appointing several experienced executives to drive forward innovation and growth in the freight insurance sector. This move is designed to elevate Loadsure's technological infrastructure, data capabilities, and
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
The insurance industry is witnessing a profound transformation powered by artificial intelligence (AI), which is reshaping various aspects of operations, from risk assessment to customer interactions. Over 70% of insurers are currently leveraging AI technologies, particularly for fraud detection
