Blog tagged as Insurance Market

For decades, insurance operated on a straightforward, transactional model: customers paid premiums and filed claims when losses occurred. That model is rapidly losing relevance. 

Today’s consumers—accustomed to the speed, convenience, and personalisation of digital platforms—expect insurance to ...

The global insurance industry is undergoing a radical transformation as Artificial Intelligence integrates into every work stage, from risk assessment and policy pricing to claims management. Companies increasingly rely on smart systems to analyze Big Data and understand customer behavior with unpre...

A year ago, insurance companies boasted that AI investments had emerged from fledgling pilot projects into production enhancements that increased efficiency and improved profitability. What a difference a year makes. Comments on most recent conference calls by Travelers, Chubb, Hartford, AIG, and ot...

What You Need To Know

The National Association of Insurance Commissioners (NAIC) has expanded its AI Systems Evaluation Tool pilot program, adding California. The pilot is designed to test regulatory approaches for assessing insurers’ use of AI and machine learning.

The pilot will run from March to Se...

As artificial intelligence reshapes the global economy, insurers face a fundamental shift in how risk is created, measured, and transferred. Speaking at an event hosted by MS Re during Miami Reinsurance Week, futurist Amy Webb outlined why the next decade will demand a new approach to risk.

The sessi...