A federal judge early Saturday blocked Elon Musk’ s Department of Government Efficiency from accessing Treasury Department records that contain sensitive personal data such as Social Security and bank account numbers for millions of Americans. The payment system handles tax refunds, Social Security benefits, veterans’ benefits and much more, sending out…
Insurtech
1st ‘AI insurance broker’ targets coverage gaps, aiding agents
A specialty wholesale insurance brokerage seeks to “digitize human knowledge” to address coverage and service gaps.
Top 8 trends that will impact insurance in 2025
Now is the time to reshape the insurance industry’s business model and technology foundation, according to a Majesco white paper on trends impacting the future of insurance in 2025.
Health coverage redefined through innovative self-funded solutions
These new models combine specialized solutions and tailored offerings to serve overlooked segments, such as gig and part-time workers, associations and businesses looking for new ways to address rising costs.
Newly patented AI insurance pre-qualification tool goes a step further
A newly patented AI-powered insurance software tool takes the pre-qualification process a step further, say its developers.
Chinese startup DeepSeek’s meteoric rise is making many people wonder if adding more computing hardware is still the best way to boost artificial intelligence (AI), according to new research from Deutsche Bank. Drawing an analogy with the EV sector, the paper asks: Do you do not need a high-end Tesla Model X car just to run quick errands, when perhaps the cheaper BYD can handle…
—The 40- year-old founder of China’ s DeepSeek, an AI startup that has startled markets with its capacity to compete with industry leaders like OpenAI, kept a low profile as he built up a hedge fund and then refined its quantitative models to branch into artificial intelligence.. Liang Wenfeng, who founded DeepSeek in 2023, was born in southern China's Guangdong…
DeepSeek, the Chinese artificial intelligence that has shaken the foundations of Silicon Valley’s technological giants, is not very self-aware. But this digital mastermind, capable of chatting in real time, is quite clear about the geopolitical context of its birth, and that US restrictions on access to the most advanced chips in China have contributed to its…
Brother-sister duo develops software to alert insurers to nuclear verdicts
With nuclear verdicts on an “alarming” rise, a brother and sister have teamed up to develop software to put insurers on alert.
Is technophobia costing RIAs millions in passive SEO leads?
Hesitancy to leverage technologically driven marketing strategies could be costing RIAs hundreds in passive SEO leads every month.
Lawsuits target use of driver data by insurers, automakers
Recent lawsuits allege driver data from embedded auto technology and mobile apps is being used unethically and illegally.
FINRA, FBI warn about generative AI and finances
The Financial Industry Regulatory Authority, a private corporation also known as FINRA, goes further: You need to protect your investment accounts from "generative artificial intelligence" or Gen AI. FINRA oversees member broker-dealers who do business in the U.S.. "Gen AI is making it easier for bad actors to fraudulently open new accounts using investors'…
–The global insurtech market size is estimated to grow by USD 77.41 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of over 42.35% during the forecast period. Application 1.1 Marketing and distribution 1.2 IT support 1.3 Claim management 1.4 Policy administration and management 1.5 Others Deployment 2.1…
AI: Speeding up the underwriting process
Advances in technology are producing better data, which leads to faster, more accurate and less invasive underwriting.
Is ‘lack of vision’ key to the AI readiness gap in the insurance industry?
The AI readiness gap between insurance companies ready to adopt AI and those that aren’t, may boil down to a lack of vision, says one expert.
Artificial Intelligence startups in the United States raised 30 percent more in venture funds last year than in 2023, despite the fact that large companies developing this technology such as Sam Altman’s OpenAI or Elon Musk’s xAI have not reported profits, specialists indicated. The enthusiasm for AI technology, sparked in large part by the resounding…
Expert suggests AI ‘broadening’ actuarial mindset in insurance
Advancements in AI and big data are gradually changing the traditional actuarial practice, according to an industry expert.
AI: achieving a balance of efficiency, accuracy in in life insurance underwriting
By combining human expertise with AI’s processing power, carriers can make progress in achieving a balance between efficiency and accuracy in underwriting.
How the life insurance industry can restore its relevance
Structural forces that could help the industry find new life.
