artificial intelligence News

A Human Touch is Key to Building an Effective Touchless Claims Environment

In today’s fast-paced, digital world, the insurance industry is undergoing a rapid transformation, and the way insurance claims are being managed is no exception. The touchless claims experience is proving to be an elusive goal for some, a lofty aspiration …

U.S. Business Owners Seek Higher Insurance Coverage as AI, Election Risks Loom, Survey Shows

Artificial intelligence and U.S. election have emerged as significant risks to businesses this year with an overwhelming 80% of owners worried their insurance will not cover a specific loss, a survey by insurance brokerage Gallagher showed on Wednesday. Companies are …

How AI Can Reshape Claims Management

How can artificial intelligence change property/casualty insurance claim processing? Two industry experts answered that question from a few angles during Carrier Management’s annual InsurTech Summit. Frank Giaoui, founder and CEO of Optimalex Solutions, and Shane Riedman, general manager and vice …

Where the AI Risks Are: Swiss Re’s Top 10 Ranking by Industry

The insurance industry came in sixth in a ranking of 10 major industries based on current AI risk, and seventh based on future risk, with health care replacing IT as the most exposed sector in the next 10 years. The …

AI Voiceover Company Stole Voices of Actors, New York Lawsuit Claims

Two voice actors sued artificial-intelligence startup Lovo in Manhattan federal court on Thursday, accusing the company of illegally copying their voices and using them without permission in its AI voiceover technology. Paul Lehrman and Linnea Sage said in the proposed …

Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting

A poll to understand American consumers’ attitudes toward artificial intelligence in the property/casualty insurance sector shows the strongest support for AI’s use in fraud detection, delivering personalized products and promotions and AI in customer service. According to a poll conducted …

Viewpoint: How Generative AI Enables a Brighter Claims Future in 2024 and Beyond

As generative AI transitions from an emerging innovation to a tried-and-true tool, this multi-use technology has given way to key use cases for the risk and insurance space. According to a recent study, by the end of 2023, half of …

US, Britain Announce Formal Partnership on Artificial Intelligence Safety

The United States and Britain announced a new partnership on the science of artificial intelligence safety, amid growing concerns about upcoming next-generation versions. Commerce Secretary Gina Raimondo and British Technology Secretary Michelle Donelan signed a memorandum of understanding in Washington …

Survey Shows One-Third of Americans Think AI is a Good Idea for Insurers

Roughly one-third of Americans think it is a good idea for insurance companies to use AI, a new survey shows. The survey was conducted online in January with more than 1,000 adult participants across the U.S. Respondents were asked eight …

Government Commissioned Report: AI is Creating New Categories of Weapons of Mass Destruction

A U.S. State Department-commissioned report asserts that advanced artificial intelligence is creating entirely new categories of weapons of mass destruction-like (WMD-like) and WMD-enabling catastrophic. The risks associated with these developments are global, have deeply technical origins and are quickly evolving, …