AI Risk Evaluation

FDA Approves Sepsis ImmunoScore AI Tool for Early Detection and Risk
AI & Automation FDA Approves Sepsis ImmunoScore AI Tool for Early Detection and Risk

Sepsis is a severe medical condition triggered by an abnormal immune response to infection, leading to organ dysfunction, high morbidity, and elevated mortality rates. Rapid and accurate diagnosis is critical for effective treatment, particularly with antibiotics, which can significantly improve

January 8, 2025
AI-Powered Upgrade to Revolutionize Actuarial Modelling for Insurers
AI & Automation AI-Powered Upgrade to Revolutionize Actuarial Modelling for Insurers

The integration of artificial intelligence (AI) into WTW's RiskAgility Financial Modeller (RiskAgility FM) marks a significant leap forward for life and health (L&H) insurers facing increasingly complex products and regulatory landscapes. As these companies strive to comply with rigorous

December 19, 2024
Why Has AM Best Upgraded Ark's Long-Term Outlook to Positive?
AI & Automation Why Has AM Best Upgraded Ark's Long-Term Outlook to Positive?

AM Best, a renowned credit rating agency, recently revised the outlook for Group Ark Insurance Limited (GAIL) from stable to positive regarding its Long-Term Issuer Credit Rating (Long-Term ICR). Concurrently, it affirmed a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term ICR of “a”

December 18, 2024
TWIA Increases 2025 Reinsurance Budget by 22% to Address Growing Risks
AI & Automation TWIA Increases 2025 Reinsurance Budget by 22% to Address Growing Risks

As Texas faces growing exposure to hurricanes and severe weather, the Texas Windstorm Insurance Association (TWIA) Board has taken a proactive stance by approving a substantial 22% increase in the reinsurance budget for 2025. This decision was driven by a sharp rise in projected losses, considering

December 16, 2024
How Will CyberCube and St. Andrews Partnership Transform Cyber Insurance?
AI & Automation How Will CyberCube and St. Andrews Partnership Transform Cyber Insurance?

In a move set to reshape the landscape of cyber insurance, CyberCube, a prominent provider of cyber risk analytics, announced a groundbreaking partnership with St. Andrews Insurance Brokers, a leading retail brokerage in Canada. This collaboration involves the implementation of CyberCube’s Broking M

December 16, 2024
PI Insurance Rates Decline Amid Competition and Escalating AI Risks
AI & Automation PI Insurance Rates Decline Amid Competition and Escalating AI Risks

The professional indemnity (PI) insurance market has encountered significant changes as rates dramatically decrease due to mounting competition from new entrants like Managing General Agents (MGAs). According to Clyde & Co's latest report for 2024, which gathered insights from

December 12, 2024
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