AM BestTV: AM Best Shows How Technology Is Speeding the Pace of Insurance Innovation

2019 APR 26 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Against the backdrop of how innovation is transforming the insurance industry, this episode of AM BestTV takes a detailed look at some emerging technology-enabled tools available to insurance companies. Andrea Keenan, senior managing director-Industry Relations, travels to burgeoning startups and established companies across the United States and in Canada to learn more about their innovative efforts. Click on http://www.ambest.com/v.asp?v=innovators419 to view the entire program.

In the episode, Keenan visits companies located in California, Illinois, New Jersey, New York and Pennsylvania, as well as in Ontario, to learn about the motivation behind each company’s initiative, as well as the executives’ views on technology, disruption and the future of the insurance industry. “There have been cases where technologists have entered the sector and the result was an exercise in using technology to complicate and over-engineer the business of managing risk,” said Keenan. “But it is easy to see that these are not rudderless technologists trying to throw complexity toward uncertain goals.”

The participants in this episode were featured at AM Best’s recent Review & Preview conference. The platforms described include a risk management tool for building and property monitoring; more accurate predictive wildfire models with machine learning; a detection system to mitigate water-damage claims; a photo/video verification site that allows carriers to speed up the virtual inspection process; and a host of other new tools and initiatives employing emerging technologies.

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