Data/Intelligence

Cytora, a leading InsurTech company, has been engaged by Chubb, a global insurance leader, to automate claims document processing.

CLARA Analytics, a leading provider of artificial intelligence (AI) technology for insurance claims optimisation, has announced a new addition to its board of directors. 

Many insurance companies offer their customers the convenience of scanning and submitting claims-related documents through dedicated mobile apps. While this approach works well for many, not all users want to download additional applications. Fortunately, there's an alternative solution that combines efficiency and user-friendliness – implementing a Web SDK for document scanning directly through browsers.

The landscape of the insurance industry is undergoing a profound transformation, driven by rapid technological advancements.

In the ever-evolving landscape of banking, financial services, and insurance (BFSI), a groundbreaking movement is underway, poised to revolutionise traditional operations and service delivery. At the forefront of this transformation is Intelligent Process Automation (IPA) – a pioneering blend of Artificial Intelligence (AI) and advanced process automation technologies. IPA is not merely an incremental improvement; it represents a paradigm shift, specifically engineered to automate written inquiries. InsurTech firm Simplifai investigates this pioneering technology. 

The digital transformation of the insurance industry has been underway for many years. Carriers have drastically improved their efficiency, speed and accuracy through the implementation of new technologies. Now the sector may be looking towards data analytics to make the latest leap in the space. 

Akur8, the next-generation insurance pricing solution powered by Transparent AI, has been selected by Swedbank, to enhance its insurance pricing process. 

Skyward Specialty Insurance Group, property & casualty (P&C) insurer has partnered with Gradient AI, to power its Accident and Health (A&H) division.

Underwriting has often been considered the bedrock in which insurance policies are built upon. Coupled with a rigid loss control strategy, these tenets make up the heartbeat of the insurance industry, shaping its trajectory and resilience in the face of evolving challenges. A host of insurance industry experts delved into the changing roles of underwriting and loss control and discussed the future of risk engineering.

Data masking has emerged as a crucial solution in the digital landscape, especially in 2023, where data stands as the most profound and vulnerable digital asset for businesses. Elijah Mokin, Head of R&D at Symfa, delves into data masking and its potential.