AI AND INSURTECH
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NewsDWIC24: Phinsys wins Lloyd’s Lab ‘Dragons’ Den’ insurtech competition
Five graduate startups of the Lloyd’s Lab insurtech incubator made their pitches to DWIC 2024, grilled by questions from a panel that included Vicky Carter, deputy chair of Lloyd’s.
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NewsWhen is a technology company not a technology company? – Ebix Europe
A crucial distinction arises when a company outsources critical development tasks to third-party vendors, writes Peter Smyth, vice president, Ebix Europe.
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NewsDemonstrating the value of AI to the insured will be key to its success – Cytora CEO
Cytora’s CEO Richard Hartley reflected on the re/insurance industry’s multi-faceted embrace of AI.
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NewsBeyond automation: moving to generative AI – Xceedance
The insurance industry is beginning to understand the potential of generative artificial intelligence (Gen-AI) and adopt it for certain processes, but Amit Tiwari, co-founder and president at Xceedance, thinks it’s time to move beyond basic task automation to fully harness the power of AI.
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NewsAlta Signa: CFO deepfakes highlight urgency for cyber risk mitigation
As cyber threats evolve, insurers and reinsurers should prioritise the dissemination of technical risk mitigation expertise to policyholders, writes Mauro Marongiu, Alta Signa’s technical head of cyber underwriting.
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NewsNeal issues Blueprint Two update after phase one delayed to October
Lloyd’s of London chief executive John Neal has said that phase one of Blueprint Two will be implemented when there is confidence that the technology works.
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NewsHowden Tiger appoints Chattaraj chief science officer
An internal hire, Bhaskar Chattaraj takes on the newly-created role for the reinsurance broker.
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NewsQ&A: ICEYE on the utility of satellite data for flood damage mitigation
Sponsored: Rupert Bidwell, vice president for insurance solutions at ICEYE, talks to GR’s sister title Insurance Times about the power of leveraging satellite technology
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NewsInsurtech euphoria has cooled, focus on immediate value – GAIF panel
An insurtech innovation panel debate at the GAIF34 event in Oman emphasised ways forward for insurtech, and AI in particular, to demonstrate the most value to insurance in the shortest time possible.
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NewsGlobal risks and perceptions intertwined – Interview with Zurich’s head of sustainability risk
Global tensions are rising, but risk perceptions are in the eye of the beholder. Zurich’s John Scott discussed the big picture with Global Reinsurance.
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NewsFourth Industrial Revolution progress report – Xceedance
The Fourth Industrial Revolution has been advancing more slowly than expected, but generative AI is accelerating change, says Justin Davies, head of region, EMEA, Xceedance.
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NewsAxio announces Lloyd’s investment
Insurtech graduate of the Lloyd’s Lab focused on quantifying cyber risk for critical infrastructure.
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NewsInterview with GAIF’s Chakib Abouzaid: Is the Gulf region an awakening insurance giant?
It’s one thing to lead an insurance federation during a period of small, incremental change. But the role is different when the regional industry is undergoing a broad and deepening transformation.
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NewsTechnology is driving market change – Swiss Re Solutions’ Higginbotham
AI isn’t putting commercial and specialty lines underwriters out of a job anytime soon, but technology can reduce the protection gap, expanding the re/insurance market into fresh pastures, Russell Higginbotham, CEO of reinsurance solutions, Swiss Re suggests.
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News“Business as usual” for Ebix Europe despite Ebix Inc’s US Chapter 11 bankruptcy
The London market arm is unaffected by the US firm’s bankruptcy proceedings filed in Texas, with the launch of PlacingHub still set for January 2024.
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NewsHiscox, Google Cloud launch AI collaboration on London market lead underwriting “from submission to quote”
Augmented underwriting by the insurer’s Hiscox London Market division could reduce the time for lead open-market quotes from three days to three minutes, Hiscox said.
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NewsSteadfast in turbulent times – Mapfre's Huertas addresses Geneva Association Summit
To mark 50 years of the Geneva Association, a keynote address from Mapfre’s CEO touched on themes of technology, cyber, climate, and closing the protection gap.
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NewsFour new satellites take ICEYE up to 31 deployed in space
SpaceX’s latest launch adds more radar imaging satellites to the picture for the synthetic aperture radar specialist, which serves governments, such as the US and Ukraine, as well as re/insurance markets.
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NewsQ3 surge causes insurtech investment to surpass $1bn – Gallagher Re
Driven by a 25.5% quarter-on-quarter surge in P&C insurtech investment, new funding edged past a billion dollars to $1.1bn during the third quarter of 2023, up 19.8%, according to the latest Global Insurtech Report from Gallagher Re.
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NewsRisks associated with AI and big data becoming more of a concern – Axa
’As an insurer, our role is to propose solutions and we are fully mobilised to fulfil it,’ says chief executive
