Infrastructure/Back-end

Insurers-prioritise-modernisation-but-struggle-to-implement

Insurers prioritise modernisation, but struggle to implement

Insurers have prioritised modernisation, but are struggling with implementation, according to a study from Earnix.

Tokio Marine partners with Akur8 to bolster pricing

Akur8, a next generation insurance pricing solution, has partnered with specialty property and casualty insurer Tokio Marine Highland to bolster its pricing process.
Kingstone-Insurance-launches-insurity-AI-assistant-to-modernise-claims

Kingstone Insurance launches Insurity’s AI assistant for modern claims

Kingstone Insurance Company has gone live with Insurity’s artificial intelligence-powered Sure AI Assistant to modernise the claims process.
OneShield-partners-AirKit-level-up-customer-interaction-capabilities-in-insurance

OneShield to level-up customer interactions with AirKit

OneShield, a provider of core software solutions for P&C insurers and MGAs, has partnered with digital experience platform AirKit, to enrich its customer interaction capabilities.
Zurich-insurance-opts-for-corelogic-speedier-claims

Zurich opts for CoreLogic for speedier claims

CoreLogic, a global property information, analytics and data-enabled solutions provider, has been selected by Zurich Insurance UK to enhance claims operations.
Canadian cyber InsurTech BOXX Insurance buys Templarbit

Canadian cyber InsurTech BOXX Insurance buys Templarbit

Canadian cyber insurance company BOXX Insurance has acquired cyber threat intelligence platform Templarbit for an undisclosed amount.
hyperexponential-exploratory-data-analysis-insurance-insurtech

Why exploratory data analysis is important

The flexibility to present and process insurance data in a manner that is easy to work with is of vital importance. hyperexponential explains why.
Tractable-teams-up-to-speed-up-disaster-recovery-Fiji-parametric-insurance

InsurTech Tractable to speed up disaster recovery in Fiji using AI

InsurTech Tractable, has partnered with The UN Capital Development Fund (UNCDF), to bring the speed and accuracy of artificial intelligence (AI) to disaster recovery in Fiji.
KOBA-Insurance-chooses-Socotra-insurance-programme

KOBA Insurance opts for Socotra

KOBA Insurance, an InsurTech MGA, is migrating its insurance programme onto Socotra’s policy platform.
One-Inc-integrates-Hi-Malrey-seamless-claims-payments

One Inc integrates with Hi Marley for seamless claim payments

One Inc, a digital payments network for the insurance industry, has integrated Hi Marley Insurance Cloud with its ClaimsPay platform.
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Diverse week for FinTech as $1.1bn raised across 17 deals

Diverse week for FinTech as $1.1bn raised across 17 deals

It was a diverse week for FinTech funding, with deals closing across nine different countries.  There were a total of 17 FinTech funding rounds covered...
Sift enhances fraud insights with new metrics in industry benchmark tool

Sift enhances fraud insights with new metrics in industry benchmark tool

Sift, a leading AI-powered fraud prevention platform, has introduced significant updates to its Fraud Industry Benchmarking Resource (FIBR), a free online tool designed to provide key fraud metrics across various industries, geographies, and timeframes.
Bitsight acquires Cybersixgill in $115m deal to enhance cyber threat intelligence

Bitsight acquires Cybersixgill in $115m deal to enhance cyber threat intelligence

Bitsight, a global leader in cyber risk management, has announced its $115m acquisition of Cybersixgill, a prominent cyber threat intelligence (CTI) provider. This strategic move...
FinCEN issues alert on deepfake fraud schemes targeting financial institutions

FinCEN issues alert on deepfake fraud schemes targeting financial institutions

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a critical alert to assist financial institutions in identifying and addressing fraud schemes involving deepfake media created with generative AI (GenAI) tools.
change communication methods during a verification check.Some identity verification solutions may also flag possible attempts to circumvent verification checks, such as the use of third-party webcam plugins, which can let a customer display previously generated video rather than live video. Use of Deepfake Media in Phishing Attacks and Scams Criminals may also target financial institution customers and employees through sophisticated, GenAI-enabled social engineering attempts in support of other scams and fraud typologies, such as business email compromise (BEC) schemes, spear phishing attacks, elder financial exploitation, romance scams, and virtual currency investment scams.24For example, in family emergency schemes, scammers may use deepfake voices or videos to impersonate a victim’s family member, friend, or other trusted individual.25Similarly, criminals have reportedly used GenAI tools to target companies by impersonating an executive or other trusted employee and then instructing victims to transfer large sums or make payments to accounts ultimately under the scammer’s control.26 Financial Red Flag Indicators of Deepfake Media Abuse FinCEN identified the following red flag indicators to help financial institutions detect, prevent, and report potential suspicious activity related to the use of GenAI tools for illicit purposes.As no single red flag is necessarily indicative of illicit or suspicious activity, financial institutions should consider the surrounding facts and circumstances before determining whether a specific transaction is suspicious or associated with illicit use of GenAI tools. A customer’s photo is internally inconsistent (e.g., shows visual tells of being altered) or is inconsistent with their other identifying information (e.g., a customer’s date of birth indicates that they are much older or younger than the photo would suggest). A customer presents multiple identity documents that are inconsistent with each other.

Folks Finance secures $3.2m in Series A to advance crosschain DeFi solutions

Folks Finance, a DeFi platform specialising in lending, borrowing, and managing digital assets across multiple blockchains, has announced it raised $3.2m in an oversubscribed Series A funding round.
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