Tag: AI

There were 12 million car accidents in the US in 2019, according to data from Statista. Each of these comes with an insurance claim, but these processes are too long and inefficient.

It has been said AI is not a silver bullet to all the insurance industry’s shortcomings. So, what’s all the chatter about? Where is it best suited, and what (if any) are its limits?

The rise of AI is happening across the majority of industries globally. However, it is seeing particularly powerful growth across the RegTech industry right now.

Beesafe, which is part of the Vienna Insurance Group, with leverage Tractable’s AI technology to assess car damage and accelerate claim processes.

London-based ABAKA, which offers an AI-recommendation engine and digital retirement solutions, has received an investment round to bolster its research and development.

Over 90% of European FinTech companies plan to adopt AI-enabled risk decisioning to combat fraud, according to a study by risk decisioning software developer Provenir.

Like many areas of insurance, the healthcare space is in a big period of change. Cloud Insurance has highlighted the five emerging technology trends in the space that could really disrupt the sector.

InsurTech is evolving rapidly. The sector has flourished over the past few years and new trends are always taking centre stage. To stay ahead...

Mastercard and Howard University have provided a $5m grant to create a centre focused on eliminating biases in AI and making the credit approval process more racially equal.

The Monetary Authority of Singapore (MAS) and the National AI Office (NAIO) have launched a national initiative aimed at strengthened AI abilities in its financial sector.