Tag: Insurance

Generative AI (GenAI) is fundamentally reshaping the insurance landscape, sparking innovation and driving customer-centric solutions. As the industry adapts to rapid technological advancements, the solution has emerged as a catalyst for change, revolutionising various aspects of insurance operations.

As we delve deeper into 2024, the embedded finance phenomenon continues to reshape the financial services sector. A Capgemini survey from 2021 revealed that over 70% of banking executives view embedded finance as a catalyst for innovation, customer base expansion, and cost reduction, predicting its market value to soar to $588bn by 2030 from $22bn in 2020. This trend positions embedded finance as a key strategic channel for banks.

African Risk Capacity (ARC), a renowned insurance firm, has announced a pair of additions to its board.

Amidst the growing call to enhance the customer experience, many believe the time is now to incorporate artificial intelligence (AI) across the entire customer lifecycle. However, while this technological advancement holds immense promise, concerns have emerged regarding the potential detachment from human interaction, which some consumers may find disconcerting. Several industry experts weighed in on the debate as part of the Professional InsurTech Certificate course.

Munich Re HealthTech, a leading software technology provider in the health insurance industry, has announced the promotion of Bilal Ramadan to Chief Executive Officer.

Nuvo, a B2B trade credit tech platform, has announced a strategic integration with Allianz Trade in North America, the global leader in trade credit insurance.

Sostengo, a Salvadoran InsurTech, has secured $3.8m in its latest funding round as it looks to expand its digital insurance solutions to underserved markets.

Simplifai, the Secure AI Automation provider, has been chosen by ERV Nordic to enhance the efficiency of their travel insurance claims handling processes.

Perfios, India's leading B2B SaaS FinTech company, has successfully raised $80m in a funding round led by Teachers' Venture Growth (TVG), the late-stage venture and growth investment arm of the Ontario Teachers’ Pension Plan.

71% of decision-makers within the insurance industry have expressed dissatisfaction with the significant effort required to initiate and digitally launch updated insurance programs.