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AI – insurtech
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30 November 2020

Driver Data Is a Help and a Hazard for Auto Insurers

Real-world driving data from connected cars is both a treasure trove and a minefield for auto insurers. Big banks’ efforts to deal with financial technology ...

15 October 2020

Six Tech Trends to Watch in the Insurance Industry

The insurance industry is in the middle of a significant evolution, largely driven by the changing expectations of modern customers, new competitors, and the unique ...

31 August 2020

Telematics and vehicle build data – the next frontier for auto claims

The next phase in the evolution of auto insurance claims will be heavily influenced by two key elements – telematics and vehicle build data.

Telematics tools are ...

31 July 2020

Rewriting the rules: Digital and AI-powered underwriting in life insurance

To many consumers, buying life insurance can be painful. Despite insurance companies’ substantial investments over the past several years in digitizing customer ...

14 July 2020

Pandemic Insurance Pressures Will Keep Insurtech Health

Like every other market, insurtech will feel the effects of the COVID-19 pandemic in the coming years. But unlike many sectors, the global health crisis may slow the ...

02 July 2020

NAIC’s Artificial Intelligence Working Group Adopts Principles for AI

On June 30, 2020 the National Association of Insurance Commissioners' (NAIC) Artificial Intelligence Working Group approved principles that call on insurers and others ...

30 June 2020

AI Only Scratching the Surface of Potential in Financial Services

Financial services companies are becoming hooked on artificial intelligence, using it to automate menial tasks, analyze data, improve customer service and comply with ...

15 June 2020

US to Unveil Voluntary Self-Driving Testing Data-Sharing Effort

US auto safety regulators are set to will unveil a voluntary effort to collect and make available nationwide data on existing autonomous vehicle testing. States have a ...

01 June 2020

The Road Ahead: Artificial Intelligence and the Future of Financial Services

Banks and insurance companies believe AI is critical to unlocking new growth opportunities and reducing costs. In this new study from the Economist, companies report how ...

19 April 2020

Will COVID-19 Give Telematics New Life?

Given that vehicle usage is a fundamental and historical rating factor – a predictor of accident frequency – one could conjecture that telematics might be heading ...

27 March 2020

RiskGenius launches COVID-19 risk checklist

RiskGenius, an insurtech using artificial intelligence to evaluate emerging risks across insurance portfolios, has released a checklist of potential coverage issues ...

27 March 2020

The impact of coronavirus (COVID-19) on the insurance industry. What does this mean for the insurtech startups?

The effects of the coronavirus pandemic have been felt in the global economy, and also for startups. This is potentially problematic for those that are underfunded , as ...

25 March 2020

Ping An screening system identifies 1,600 coronavirus cases

Ping An Insurance (Group) Company of China, Ltd. has announced that its smart audio screening system has successfully identified more than 1,600 suspected cases of ...

25 March 2020

Guy Carpenter Partners with RiskGenius to Expand Silent Cyber Analysis

Reinsurance broker Guy Carpenter & Co. has entered into a strategic relationship with RiskGenius, an insurtech firm that utilizes AI technology to evaluate emerging ...

07 February 2020

February 2020

The Latest from Mayer Brown

Brexit
Brexit: The Way Forward
Across the Brexit Finish Line – And Now What?
Brexit: How Will It Affect My Business? The Implications ...

30 January 2020

Electronic Discovery & Information Governance – Tip of the Month: 2019 Tips of the Month – A Compilation

Notable developments in the e-discovery and information governance space in 2019 included the lead-up to the California Consumer Privacy Act, which came into effect ...

25 January 2020

Top 10 Insurtech Companies in 2020

Insurance giants have long hoped to bring more innovation into their business, but strict regulations and long-standing processes have hindered their progress. This ...

22 January 2020

Artificial Intelligence: IP Challenges of AI and the Current WIPO Consultation on AI

Ongoing public consultations from the World Intellectual Property Organisation and others demonstrate a focus by IP policymakers on better understanding issues posed by ...

22 January 2020

Which Technologies Inject the Most Value into the Insurance Supply Chain?

The world of insurance is changing as new ways of doing business are making their mark on the industry.

Investment in the insurance technology space is continuing to ...

15 January 2020

White House Proposes Binding AI Principles for Regulators

On January 7, 2020, the White House issued a draft memorandum setting forth proposed principles for agencies to follow when regulating and taking non-regulatory actions ...

07 January 2020

White House Proposes Regulatory Principles to Govern AI Use

The White House on Tuesday, January 7 proposed regulatory principles to govern the development and use of artificial intelligence (AI) aimed at limiting authorities’ ...

21 October 2019

Reinsurers Take the Technology Lead

When it comes to innovation and utilization of emerging technologies in the insurance industry, reinsurance companies once led the way as early adopters of technology. ...

18 October 2019

October 2019

The Latest from Mayer Brown
Regulatory Corner: California Attorney General Releases Proposed Regulations for the CCPA [Mayer Brown]
Cyber Resilience for Insurers - ...

19 August 2019

Global AI insurance Premiums to Exceed $20B by 2024

New data from research forecasts immense growth in artificial intelligence ("AI") underwritten insurance premiums.

The study predicts that the value of AI ...

30 July 2019

Cybersecurity: Linchpin of the Digital Enterprise

As companies digitize businesses and automate operations, cyber risks proliferate, necessitating cybersecurity organizations to support a secure digital agenda. ...

23 July 2019

Cloudy With A Chance of Automation: Automated Security Services Essential For Cloud Security

Enterprise cloud operations are expanding and maturing, but as with any natural maturation, inevitable growing pains must be endured and overcome.

As organizations ...

23 July 2019

Mayer Brown’s Tech Talks, Episode 6: Smart Licensing of AI

AI licenses require many of the same terms and conditions that you would expect in “regular” licenses for software, technology and SaaS. However, licensing AI ...

23 July 2019

Cloudy with a Chance of Automation: Automated Security Services Essential for Cloud Security

Enterprise cloud operations are expanding and maturing, but as with any natural maturation, inevitable growing pains must be endured and overcome.

As organizations ...

08 July 2019

July 2019

The Latest from Mayer Brown
Regulatory Corner: Acquiring Ownership – Considerations in Acquiring a “Controlling” Interest in a US Insurance Company [Insurtech by ...

30 June 2019

US GAO Report – Insurance Markets: Benefits and Challenges Presented by Innovative Uses of Technology

The innovative use of technology by insurance companies ("Insurtech") is growing and offers the potential to improve customer experiences while also lowering insurer ...

10 June 2019

June 2019

The Latest from Mayer Brown
Regulatory Corner: Breaking Down Blockchain - Implications of Blockchain Technology for the Insurance Industry [Insurtech by Mayer ...

16 May 2019

Legal Perspectives for Technology & Innovation

Mayer Brown’s Technology Transactions Practice is pleased to announce the release of Legal Perspectives for Technology & Innovation: Insights. Written for in-house ...

10 May 2019

May 2019

The Latest from Mayer Brown
Regulatory Corner: The California Consumer Privacy Act - Key Takeaways for Insurers and Insurance Regulators [Insurtech by Mayer ...

12 April 2019

Who Owns Model Risk in an AI World?

Complicated computerized models and quantitative analyses are a fundamental mainstay in the financial services industry, from quantitative investment asset managers who ...

10 April 2019

April 2019

The Latest from Mayer Brown
Regulatory Corner: Corporate Governance Gaining Ground – An Update on the NAIC Corporate Governance Annual Disclosure Act [Insurtech by ...

10 April 2019

AI Is Changing Insurance: Some Technologies are Better Left in the Laboratory

Insurers Want to Know How Many Steps You Took Today: The cutting edge of the insurance industry involves adjusting premiums and policies based on new forms of ...

28 March 2019

Survey Finds Carriers Turning to Analytics to Fight Growth in Fraud

Insurers believe that fraud in on the rise, and they are increasingly turning to advanced analytics to fight it, according to the results of a survey released by the ...

26 March 2019

Insurers Creating a Consumer Ratings Service for Cybersecurity Industry

Some of the world’s biggest insurers plan to work together on an assessment of the best cybersecurity available to businesses, an unusual collaboration that highlights ...

12 March 2019

March 2019

The Latest from Mayer Brown
Global Insurance Industry Year in Review 2018 [Mayer Brown Publication]
Regulatory Corner: An Unconventional Circular Letter - NYDFS ...

13 February 2019

From Art to Science: The Future of Underwriting in Commercial P&C Insurance

Recent research looking at leading commercial-focused property and casualty (P&C) companies over the past three decades affirms the traditional view that ...

11 February 2019

How AI Can Battle A Beast—Medical Insurance Fraud

Healthcare fraud costs tens of billions of dollars each year in the US alone, according to the FBI; this figure could soon be on the decline, though, as artificial ...

08 February 2019

February 2019

The Latest from Mayer Brown

Regulatory Corner: Finding Common Ground - Recent Developments in International Supervision [Insurtech by Mayer Brown]

Artificial ...

04 February 2019

Technology’s Impact on P&C Insurance in 2019

As consumers are looking for a more personalized experience, especially when purchasing something as important as Property and Casualty ("P&C") insurance, the ...

31 January 2019

5 Market Forces Impacting Insurance Digital Strategy

The insurance industry, like so many others, is in a state of upheaval that will continue to play out in 2019. The disruptive forces at work in the industry have come ...

08 January 2019

Five Tech Trends That Will Define the Future of Insurance

With technology initiating dramatic changes that are reshaping the insurance industry, the forward-looking insurers are taking action and making investments that will ...

08 January 2019

January 2019

The Latest from Mayer Brown

Regulatory Corner: Keeping it Private - GDPR and Developments in Data Privacy in 2018 [Insurtech by Mayer Brown]

Push for Standardized ...

30 December 2018

Digital Insurance in 2018: Driving Real Impact with Digital and Analytics

The 2018 McKinsey Digital Insurance Compendium synthesizes highlights from the past year that demonstrate the progress that has been made in reinventing the insurance ...

13 December 2018

Cigna’s Algorithms Aim to Predict Opioid Abuse

Machine learning and predictive analytics is helping the health insurance company identify customers likely to overdose.

Cigna Corp. is using artificial intelligence ...

12 December 2018

Artificial Intelligence Has Some Explaining to Do

Software makers offer more transparent machine-learning tools—but there’s a trade-off. Artificial intelligence (AI) software can learn from data or experiences to ...

07 December 2018

December 2018

The Latest from Mayer Brown

Regulatory Corner: Eyeing AI - Artificial Intelligence and its Increasing Impact on the Insurance Industry [Insurtech by Mayer ...

05 November 2018

The Insurance CFO: Disrupting and Taking Control

While insurance has long been data-rich, it is slower than other industries to derive value from its data – an opportunity for the role of Chief Financial Officer ...

05 November 2018

November 2018

The Latest from Mayer Brown
Regulatory Corner: Reinsurance Collateral Requirements - They Are A-Changing  [Insurtech by Mayer Brown]
Missiles, Malware and Merger ...

01 November 2018

Is the Insurer of the Future a Tech Company? PwC summit in Bermuda explores

At the PwC Insurance Summit, presented by the Financial Times, that occurred in Bermuda this past November, various topics on innovation in the insurance industry were ...

21 October 2018

From Agriculture to Art – the A.I. Wave Sweeps In

The internet is a technology of low-cost communication and connection. Everything from email to e-commerce to social networks has hinged on the internet’s ...

17 October 2018

World’s Biggest Insurtech Conference Captures Industry Mood on Blockchain, AI

Earlier this month, InsureTech Connect- "the largest annual insurtech event in the world" - was held at the MGM Grand in Las Vegas. This year the event attracted over ...

11 October 2018

Artificial Intelligence Deals Tracker: 5K Deals Across 25+ Industries In One Heatmap

The top Artificial Intelligence (AI) trends for 2018 have been released in a study from CB Insights. The focus of the report is how AI is changing the basis of every ...

05 October 2018

October 2018

The Latest from Mayer Brown
Regulatory Corner: Deciphering Cybersecurity Initiatives in the Insurance Industry [Mayer Brown]
New Guidebook from Mayer Brown: ...

25 September 2018

Insurtech Fundraising Sets a Record for 2Q18

Insurtech transactions reached a new peak in the second quarter of 2018 - exceeding $5 billion - thanks to Artificial Intelligence (AI) advances in the sector giving ...

16 August 2018

The Reality of Artificial Intelligence in Financial Services

Artificial intelligence (AI)—sometimes referred to as “machine learning”—has begun to transform how financial services are provided. This trend will continue, ...

02 August 2018

Farmers Plan for Centralized AI Mechanism in Business

Farmers Insurance has implemented a more centralized use of its previous usage of AI in its business. The new mechanism, AI Council, is designed to dispel ...

13 July 2018

July 13

Mayer Brown Tech Talks, Episode 1: Staying Ahead of AI with Rebecca Eisner [Mayer Brown]

California Enacts GDPR-Like Consumer Privacy Protections: What You Need to ...

10 July 2018

Mayer Brown Tech Talks, Episode 1: Staying Ahead of AI with Rebecca Eisner

Across a variety of industries, more and more companies are building, buying and using Artificial Intelligence (AI) in their technology services agreements to further ...

15 June 2018

June 15

Data Critical to Insurance Value Chain: Key Quotes from Mayer Brown’s Tech Transactions Group [Business Insurance]

CFPB Exploring Fintech Sandbox ...

13 June 2018

Amazon reportedly had discussions about offering home insurance

Amazon has contemplated offering home insurance as an offshoot of its development work on robots and other connected devices for the home, according to a person familiar ...

18 May 2018

May 18

Lemonade Launches First Ever Open Source Policy [Insurance Business]

QBE Pours Investment into AI Start-Up [Market Insider]

And So it Begins.. South Carolina ...

04 May 2018

May 4

Bermuda Invites Insurtechs to Play in its Sandbox [Bermuda Monetary Authority]

Beazley Bets on Blockchain [Reuters]

2030: Welcome to an AI-driven Insurance World ...

02 May 2018

Insurance 2030—The impact of AI on the future of insurance

A report by McKinsey & Company details the "seismic, tech-driven shift" that will occur in the insurance industry by 2030.

Download the report here.

02 May 2018

QBE Partners With HyperScience To Drive Immediate Operational ROI With Practical Artificial Intelligence

QBE has announced a partnership with HyperScience, a machine learning "company focused on building enterprise-grade artificial intelligence (AI) solutions for automating ...

06 April 2018

April 6

Zurich Makes Chatbot Hype a Reality with “Zara” [Insurance Business]

Oscar Health not grouchy about $165 million fundraising round [Intelligent Insurer]

US ...

23 March 2018

March 23

Global Regulators Team Up to Bring Ideas (and Toys?) to International Regulatory Sandbox [Reuters]

Cigna Partners with Amazon to Bring New Voice (and Answers) to ...

22 March 2018

Zurich UK Turns to Chatbot for First Notification of Claims

Zurich UK has launched a "six-week chatbot pilot," Zara, as its first point of notification of emergency home and motor claims. Zara was developed using themes of ...

21 March 2018

Big Data, Cybersecurity, and AI Top InsurTech Trends: Survey

The Infosys digital outlook report finds that the four digital technologies most in use by re/insurers today are big data for customer insight and wallet share, cyber ...

26 January 2018

January 26

Study: 2017 - Insurtech Deals Up, Funding Down [FT Partners]

Trump Administration to Unveil Autonomous Vehicle Guidelines Summer 2018 [Reuters]

Munich Re Partners ...

14 January 2018

US Transportation Chief to Unveil Revised Self-driving Car Guidelines

US Transportation Secretary Elaine Chao recently announced the Trump administration's plans to unveil revised self-driving car guidelines this summer. It is unclear what ...

12 January 2018

January 12

Top 2018 Insurtech Predictions [Insurance Journal]

McKinsey: Ecosystems Necessary for Insurance Innovation [McKinsey & Company]

RGA Expands Tech Arm with LOGiQ3 ...

09 January 2018

Top Insurtech Predictions for 2018

Insurance Journal's Ted Devine highlights the top predictions for the insurtech market in 2018. Some of these predictions include: more partnerships, integration of big ...

12 December 2017

City of Hartford Launches First Insurtech Cohort

Hartford InsurTech Hub, the accelerator launched by Startupbootcamp in September, has announced which 11 startups will participate in the incubator’s first program, ...

14 November 2017

Insurance Companies Offering Smart Insurance Solutions

Insurance companies are starting to offer ‘smart’ devices to consumers where the data can be used to lower insurance premiums.

Read more here.

01 November 2017

Rise of the Machines Must Be Monitored, Say Global Finance Regulators

At a recent global Financial Stability Board (FBS) meeting, regulators discussed the danger that replacing bank and insurance workers with machines pose to their ability ...

31 October 2017

QBE Invests in, Links With, Machine Learning InsurTech Startup RiskGenius

QBE has announced a partnership with RiskGenius, a machine learning company that will apply machine learning to policies sold by the carrier. This announcement comes on ...

06 October 2017

October 6

Six Key Takeaways from Insuretech Connect 2017. Joe Castelluccio, one of the co-leaders of Mayer Brown’s Insurtech initiative, reports on key themes and highlights ...

02 October 2017

XL Catlin’s Accelerate Partners with UK Artificial Intelligence Startup Cytora

XL Catlin’s internal innovation team, Accelerate, announced it is working with Cytora, a UK-based insurtech startup that uses artificial intelligence (AI) and open ...

25 August 2017

August 25

Successful Integration in Transformational M&A Deals [Law360]

Blockchain Settlements: The Future of Cat Bonds? [Bloomberg]

Nationwide Commits to Insurtech ...

16 August 2017

Nationwide Commits to Next Generation of Insurance and Financial Services

Nationwide has announced its commitment to invest more than $100M of venture capital in customer-centric solutions that help members: live comfortably in retirement; ...

04 August 2017

How Can Insurers Define the Digital Future?

The 2017 Accenture Technology Vision for Insurance report highlights the "tremendous opportunity" for insurers who can tap into uncharted waters of technology and ...

31 July 2017

The Power of a Selfie: Legal & General America Launches SelfieQuote.com

Legal & General America has launched SelfieQuote.com, a easy way to obtain a life insurance quote. Simply submit a photo of yourself and SelfieQuote.com provides a ...

28 July 2017

July 28

Not all ‘Glitz and Glamour,’ Insurtech Targets the Back Office [Business Insurance]

Regulators to Industry: “Help Us” [Insurance Journal]

Red Hot: ...

17 July 2017

Will Robots Take Over The Insurance Industry?

AIG's Brian Duperreault discusses the impact that artificial intelligence and robots will have on the insurance industry. Brian highlights the benefits and draw backs of ...

13 July 2017

July 12

Partnerships foster Blockchain Breakthrough for Insurers [Business Insurance]

Combining Big Data & AI: A Recipe for Disruption [Reinsurance News]

New Kid on ...

04 July 2017

InsurTech & AI use of data to disrupt re/insurance: Willis Towers Watson

Willis Towers Watson's recent report identifies the combination of big data and artificial intelligence as an amplifying source to disruption in the re/insurance ...

22 June 2017

June 22

Blockchain to gain its first reinsurance product [Insurance Journal]

The Bots are coming: Why insurers like them, and what it means for the industry [Insurance ...

16 June 2017

Insurers Must Digitalise to Meet Buyers’ Needs, Says Greenberg

Speaking at the Marsh & McLennan Companies Young Professionals’ Global Forum 2017, Chubb chairman and chief executive Evan Greenberg explains why the need to ...

07 June 2017

June 7

Insurers to America’s Truckers: Embrace sensors or risk losing your coverage [Wall Street Journal, Subscription required]

Insurtech is keeping regulators on their ...

18 May 2017

UK Insurer Ageas Uses Artificial Intelligence to Manage Motor Claims

UK insurer Ageas embraces artificial intelligence technology to manage motor claims by partnering with insurtech startup Tracktable.

Read more here.

16 May 2017

InsurTech firm Sherpa & Gen Re partner to disrupt traditional re/insurance model

InsurTech startup Sherpa announced plans to collaborate with reinsurer Gen Re to offer customer-driven insurance cover to provide clients with a single underwriting ...

11 May 2017

Allianz Global Corporate & Specialty Partners with Insurtech Firm to ID Liability Risks

Allianz Global Corporate & Specialty SE (AGCS), is working with Praedicat, the Los Angeles-based insurtech analytics firm, to better predict key catastrophe ...

11 May 2017

Insurance Giant QBE to Inject $50 Million Into “insurtech” as Corporate-startup Fraternising Rises

QBE announced it is poised to spend up to $50 million on insurtech startups this year. QBE's announcement is on trend with other incumbent insures who have begun ...

03 May 2017

Startup Net Insurance Raises $29 Million from Insurers, Other Investors

Next Insurance, a digital insurance company for small to medium businesses, said it has raised $29 million in a Series A funding round led by Munich Re/HSB Ventures ...

11 April 2017

Accenture’s New North American Innovation Center Addresses Insurers’ Digital Challenges

Accenture announced it is launching a new North American Innovation Center that will address the digital challenges that insurers face.

The new Center focuses on ...

21 March 2017

New Data Shows Consumers Don’t Want Technology to Completely Replace Insurance Agents, Even if it Means Lower Rates

Contrary to conventional wisdom a study by Verafore reveals consumers are not interested in completely replacing traditional insurance agent purchasing models with ...

23 February 2017

Why AXA Wants to Become The Leader in Innovation in Insurance

AXA has been one of the most active insurers in the insurtech space; CEO Thomas Buberl discusses via LinkedIn AXA's goal of becoming a leader in innovation.

Read ...

28 February 2019

Global Insurance Industry Year in Review 2018

In this report, Mayer Brown's Global Insurance Industry Group discuss developments and trends in insurance industry transactions in the past year in North America, ...

22 February 2019

President Trump Launches AI Strategy for Federal Government

On February 11, 2019, President Trump signed an “Executive Order on Maintaining American Leadership in Artificial Intelligence” (the “Order”) and, in doing so, ...

11 January 2019

@Insurance Snapshot: Regulatory Corner – Keeping it Private: GDPR and Developments in Data Privacy in 2018

By any measure, 2018 was a major year for data privacy regulation.  The most significant regulatory development in this area was the European Union’s General Data ...

06 December 2018

@Insurance Snapshot: Regulatory Corner – Eyeing AI: Artificial Intelligence and its Increasing Impact on the Insurance Industry

The use of artificial intelligence (“AI”), which may be defined as the development of computer systems able to perform tasks normally associated with human ...

16 August 2018

The Reality of Artificial Intelligence in Financial Services

Artificial intelligence (AI)—sometimes referred to as “machine learning”—has begun to transform how financial services are provided. This trend will continue, ...

10 July 2018

Mayer Brown Tech Talks, Episode 1: Staying Ahead of AI

Across a variety of industries, more and more companies are building, buying and using Artificial Intelligence (AI) in their technology services agreements to further ...

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