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Legacy technology systems are holding insurers back. (AI-generated image)

The legacy technology systems that many insurers rely on are holding them back. Still, it’s unsustainable for insurers to keep kicking the can down the road long-term, according to a new study.
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Technology could help seniors close the retirement savings gap.

With many Americans’ retirement savings falling far short of what they really need for long-term financial security, technology could be leveraged to help close the gap.
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Current insurance agency AI adoption levels vary widely—33% are just experimenting, 22% are using AI in limited areas, 8% are embedding it in daily workflows, and 31% are not using it at all.

According to the Big ‘I’, two-thirds of independent agencies plan to increase their AI usage in the next 12 months.

–TD expects to cut insurance claims costs by $150 million "in the medium term" through AI deployment, vendor optimization, fraud detection and process reengineering, CFO Kelvin Tran said Thursday during the bank’ s quarterly earnings call.– The firm’ s investments in process improvement, digital and artificial intelligence capabilities will reduce timelines…

Fintech company Block said Thursday that it's cutting more than 4,000 workers or nearly half of its workforce as artificial intelligence disrupts the way people work. The Oakland parent company of payment services Square and Cash App saw its stock surge by more than 23% in after-hours trading after making the layoff announcement. Jack Dorsey, the co-founder…

The Federal Reserve issued the following speech on Feb. 17, 2026, by Governor Michael S. Barr at the New York Association for Business Economics:. What Will Artificial Intelligence Mean for the Labor Market and the Economy? Thank you for the invitation to speak to you today./ 1 Before I get into my main topic, I wanted to share my current views on the economy and monetary…

Riverbed, the leader in AIOps for observability, today released Financial Services industry findings from its global survey,‘ The Future of IT Operations in the AI Era,’ which examines the level of AI readiness across the Financial Services Sector. The results highlight a growing implementation gap as organizations move from AI ambition to real-world impact.

Alaffia Health, the leader in agentic AI for health plan claims operations, today announced a $55 million Series B financing, led by Transformation Capital, with participation from insiders including FirstMark Capital, Tau Ventures, and Twine Ventures. Founded in 2020 by sibling duo TJ Ademiluyi and Adun Akanni, Alaffia was built to address these challenges,…

-The Trump Aainistration is set to revisit regulations on data privacy and consumer protections between banks and financial technology firms such as Venmo. Paul Watkins, managing partner at Fusion Law, called the provision an "essential part of our financial lives." The Biden Administration then formalized the largely untouched provision in 2024 to give…