Last month’s worldwide tech outage disrupted organizations from airlines to banks to hospitals. However, one sector that seems to have escaped the impact of the event is the cyber insurance industry, as most of the costs were uninsured, the Financial Times’ Vanessa Houlder noted in...
The insurance industry, long perceived as a slow-moving behemoth, is experiencing a seismic shift thanks to the emergence of InsurTech companies. These tech-driven firms are revolutionizing the way insurance is bought, sold and managed, bringing unprecedented levels of efficiency, customer satisfaction and innovation to the...
In the connected economy, there are simple business models (think subscriptions), complex business models (think platforms like Uber), and then there’s insurance. The insurance sector is so large and complicated that it’s hard to get a read on how big it is. Some estimates put...
Simply Business has expanded its workers’ compensation insurance offering for small businesses by partnering with workers’ compensation provider Employers. With this expansion of its offering, Simply Business can digitally quote and bind workers’ compensation policies for more than 300 different types of small businesses across...
Insurers’ use of artificial intelligence (AI) must not discriminate against consumers, New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris said Thursday (July 11). Harris said this in a press release announcing the DFS’s adoption of guidance for insurers that use AI...
As consumers increasingly look to their financial institutions for insurance products, banks have an opportunity to meet this growing demand. A recent report from PYMNTS Intelligence and Franklin Madison shows that 44% of all consumers would turn to their financial institutions (FIs) for insurance needs,...
Most consumers get their insurance from various providers, but data shows that consumers want to simplify the process. PYMNTS Intelligence finds that 44% of all consumers would turn to their financial institutions (FIs) for these needs. Younger consumers are particularly keen on shopping for these...
Vitesse has completed a $93 million Series C funding round aimed at growing its treasury and payment solutions for the insurance industry. The company will use the new funding to support its expansion in the United States and to further its product development, adding more connectivity...
Agile Premium Finance and ePayPolicy have teamed to offer insurance industry clients checkout financing options. “With ePayPolicy’s latest feature release, Finance Connect, Agile now offers its customers convenient online financing enrollment and premium payment solutions,” the companies said in a Tuesday (May 14) news release. “Finance Connect enables Agile...
