FRANKFURT/BEIJING/DETROIT — Tesla Inc’s rapid rise to become the world’s most valuable carmaker could mark the start of a new era for the global auto industry, defined by a Silicon Valley approach to software that is overtaking old-school manufacturing know-how. …
WASHINGTON — The National Highway Traffic Safety Administration (NHTSA) said Tuesday it was proposing sweeping changes to U.S. safety requirements to speed the deployment of self-driving vehicles without human controls. The agency said it is proposing to rewrite 11 safety …
It’s no secret: Innovators and regulators often clash. But both are needed to help enable a dynamic, consumer-friendly property/casualty industry in the future, insurance and InsurTech industry experts said recently. “There will be more innovation and empowerment of the consumer, …
The commercial auto line hasn’t returned an underwriting profit for eight years now. Growing claim severity is a big part of the problem. Advanced technology needs to be a part of the solution, according to a report released Tuesday by …
Underway for some time now, the disruption of the insurance industry has moved into a new phase, following the announcement by A.M. Best that it may soon begin scoring insurers’ innovation efforts. Journalist Russ Banham spoke with ratings agencies, thought …
I’ve seen this story before. Having worked in fintech since 2005, I witnessed the fintech wave forming, cresting, and eventually crashing into the financial ecosystem. If there is a fraternal twin to banking, it’s the insurance industry. Both industries are …
The claims talent management shortage will be relieved somewhat by increased automation and changing skill requirements, according to an industry report released last year by Ernst & Young. Nicole Michaels and Charlie Mihaliak, partners in Ernst & Young’s insurance practice, …
The next year likely will be one of continued disruptive change in the U.S. property/casualty insurance market, and insurers will need to focus on innovation in all areas of the business to remain successful, according to the 2016 EY US …