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 …
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 …
Startup Betterview raised $7.5 million in new funding to fuel expansion of its artificial intelligence technology that helps property/casualty insurance carriers spot and manage property risk. ManchesterStory led the round, which brings the insurtech’s total venture capital tally to $17 …
Innovation in the insurance industry is no longer a buzzword. It is fast becoming a catalyst to win market share. In the past, the industry has been a slow adopter of emerging technologies. The industry was also marred by other …
LAS VEGAS — People who buy gasoline generally don’t care for the product or enjoy the experience of pumping gas: They just want to drive. Chris Colborn, chief experience officer for the Lippincott creative consulting firm, opened with that analogy …
The same artificial intelligence technique typically used in facial recognition systems could help improve prediction of hailstorms and their severity, according to a new study from the National Center for Atmospheric Research (NCAR). Instead of zeroing in on the features …
For years, automobile insurers have used automatic dialogue devices, called chatbots, to field calls from policyholders when they report claims. Last year, personal insurance startup Lemonade took the technology up a notch, boasting that it was closing claims in seconds …
Last year, Microsoft Corp.’s Azure security team detected suspicious activity in the cloud computing usage of a large retailer: One of the company’s administrators, who usually logs on from New York, was trying to gain entry from Romania. And no, …
A new computer model is proving significantly more accurate in identifying potentially unsafe restaurants when compared with existing methods of consumer complaints and routine inspections. The model uses machine learning and de-identified and aggregated search and location data from logged-in …
The insurance industry has operated with great consistency and clear processes for many years. People may not always like or agree with how things work, but nearly everyone from the consumer to the provider essentially goes with it — no …