artificial intelligence News

Researchers Say Misleading FEMA Flood Maps Understate Risk

Researchers at North Carolina State University have added their voices to the growing number of people who say that federal flood maps are inadequate and misleading, causing thousands of homeowners to avoid needed flood insurance. “In fact, only about 4% …

Viewpoint: Becoming a Data-Informed Organization

We hear a lot of talk these days about the virtues of data-driven organizations. That’s certainly reasonable up to a point — but what does it really mean? When it comes to routine operational decisions, in particular, the current bias …

Viewpoint: The Role of Natural Language Processing in Claims Management

Claims management has always been a combination of art and science. The “science” part tends to be fairly easy to understand, at least at a conceptual level. After all, insurers base a great many of their decisions on statistics and …

Can Electric Scooters Become a Safer Way to Travel?

At first, it seemed as though nothing could go wrong. Dockless shared electric scooters began showing up on the streets of the world’s cities in 2017, and the vanguard — techies, baristas, twentysomething daredevils — hopped on and rode, confident …

Viewpoint: Reinventing Injury Claims Processes

There’s no denying that COVID-19 accelerated the digital transformation already well underway throughout the property/casualty insurance industry. Although many carriers hesitated to digitize various aspects of their claims process prior to COVID-19 – primarily due to challenges with their legacy …

Artificial Intelligence Being Used to Battle Western Wildfires

With wildfires becoming bigger and more destructive as the West dries out and heats up, agencies and officials tasked with preventing and battling the blazes could soon have a new tool to add to their arsenal of prescribed burns, pick …

Researchers Say New FEMA Flood Maps Underestimate Flood Risk

Researchers have used artificial intelligence to predict where flood damage is likely to happen in the continental United States. The findings suggest that recent flood maps from the Federal Emergency Management Agency do not capture the full extent of flood …

Insurers Report Growing Use of Fraud-Detection Technology, Artificial Intelligence

Insurers are getting a larger share of suspicious claim referrals from fraud-detection technology and are increasingly using artificial intelligence to sift through data, according to a new study by the Coalition Against Insurance Fraud and SAS. The Insurance Fraud Technology …

Viewpoint: The Need for Artificial Intelligence Governance

Artificial intelligence, and more specifically machine learning, is being deployed in the insurance space in some very exciting ways — from assessing underwriting risks to determining pricing to evaluating claims. But with these advances come sizable risks, some of which …

Robotaxi Race Opens Up as Top Contender Waymo in Low Gear in Arizona

CHANDLER, Ariz.–Alphabet Inc’s Waymo risks losing its lead in the U.S. race to prove robotaxis are a viable business as it sticks to a limited service and rivals backed by automakers near their own launches. Companies including Ford Motor Co’s …