2020 marked the Mayer Brown Insurance Industry Forum’s seventh year bringing together industry leaders, insurance regulators and leading bankers and advisors to the ...
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 ...
For telematics and connected car programs to work in the insurance industry, there has to be a multi-stakeholder approach that acknowledges the growing co-dependence ...
To many consumers, buying life insurance can be painful. Despite insurance companies’ substantial investments over the past several years in digitizing customer ...
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 ...
Financial services companies are becoming hooked on artificial intelligence, using it to automate menial tasks, analyze data, improve customer service and comply with ...
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 ...
As the COVID-19 crisis evolves, it will continue to affect insurance distribution around the world. Insurers can prepare by building a strategy focused on near- and ...
Significant investments in direct-to-consumer website and mobile design have helped property & casualty insurance companies improve their digital service and ...
Over the past decade, federal officials have made efforts to move from paper to electronic health records ("EHRs"), expecting to harness volumes of medical data to ...
Given that vehicle usage is a fundamental and historical rating factor – a predictor of accident frequency – one could conjecture that telematics might be heading ...
What does this global pandemic mean for the insurtechs? Potential consequences are that some of the insurtechs in a very early stage, might struggle because of less ...
As the COVID-19 crisis unfolds, many startups and digital-only insurance providers are finding ways to support customers as well as non-customers during the crisis, ...
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 ...
To take advantage of big data technology, insurance managers and underwriters need to first understand how to leverage its power in supporting their specific ...
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 ...
Reinsurance broker Guy Carpenter & Co. has entered into a strategic relationship with RiskGenius, an insurtech firm that utilizes AI technology to evaluate emerging ...
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 ...
Insurance giants have long hoped to bring more innovation into their business, but strict regulations and long-standing processes have hindered their progress. This ...
Brexit is finally here. The United Kingdom leaves the European Union on 31 January 2020. The EU and the UK will now enter a transition period which is scheduled to last ...
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 ...
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. ...
The Latest from Mayer Brown Regulatory Corner: California Attorney General Releases Proposed Regulations for the CCPA [Mayer Brown] Cyber Resilience for Insurers - ...
On October 7, 2019, the United States and United Kingdom released the text of a bilateral data access agreement that would permit law enforcement authorities in one ...
The number of cyber attacks are on the increase and so is its level of sophistication. Because insurance companies are data-driven businesses holding vast amounts of ...
In the age of interconnected devices and big technology, hearing about cyber attacks in the headlines is a common news story. More than 40 municipalities have been the ...
In July 2019, the UK Information Commissioner’s Office (ICO), a European data protection supervisory authority, has flexed its muscles and has announced its intention ...
As companies digitize businesses and automate operations, cyber risks proliferate, necessitating cybersecurity organizations to support a secure digital agenda. ...
Enterprise cloud operations are expanding and maturing, but as with any natural maturation, inevitable growing pains must be endured and overcome.
As organizations ...
The Latest from Mayer Brown Regulatory Corner: Acquiring Ownership – Considerations in Acquiring a “Controlling” Interest in a US Insurance Company [Insurtech by ...
The New General Law of Data Protection (LGPD) innovates how the personal data must be processed by companies in Brazil. Inspired by the European General Data Protection ...
Traditional insurers are utilizing technology to improve customer experiences and business functions in greater numbers. Allstate reports that 60% of claims are handled ...
The Latest from Mayer Brown Regulatory Corner: Breaking Down Blockchain - Implications of Blockchain Technology for the Insurance Industry [Insurtech by Mayer ...
As the decade comes to a close, new technologies are having a major impact on how insurance industry participants conduct their operations – especially how they ...
The Latest from Mayer Brown Regulatory Corner: The California Consumer Privacy Act - Key Takeaways for Insurers and Insurance Regulators [Insurtech by Mayer ...
Machine learning, artificial intelligence and other big data analytics tools are delivering business value by producing valuable insights and augmenting human ...
The Latest from Mayer Brown Regulatory Corner: Corporate Governance Gaining Ground – An Update on the NAIC Corporate Governance Annual Disclosure Act [Insurtech by ...
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 ...
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 ...
The Latest from Mayer Brown Global Insurance Industry Year in Review 2018 [Mayer Brown Publication] Regulatory Corner: An Unconventional Circular Letter - NYDFS ...
Recent research looking at leading commercial-focused property and casualty (P&C) companies over the past three decades affirms the traditional view that ...
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 ...
Regulatory Corner: Finding Common Ground - Recent Developments in International Supervision [Insurtech by Mayer Brown]
Artificial ...
As consumers are looking for a more personalized experience, especially when purchasing something as important as Property and Casualty ("P&C") insurance, the ...
With technology initiating dramatic changes that are reshaping the insurance industry, the forward-looking insurers are taking action and making investments that will ...
Regulatory Corner: Keeping it Private - GDPR and Developments in Data Privacy in 2018 [Insurtech by Mayer Brown]
Push for Standardized ...
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 ...
The Latest from Mayer Brown Regulatory Corner: Reinsurance Collateral Requirements - They Are A-Changing [Insurtech by Mayer Brown] Missiles, Malware and Merger ...
The Latest from Mayer Brown Regulatory Corner: Deciphering Cybersecurity Initiatives in the Insurance Industry [Mayer Brown] New Guidebook from Mayer Brown: ...
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 ...
The state of California recently enacted the most sweeping general privacy statute in the United States. The California Consumer Privacy Act, codified in Assembly Bill ...
Canaan Partners Launch New $20M Investment Strategy [Tech Crunch]
KPMG: Insurance Firms Eye M&A and Partnerships for Growth [KPMG]
Insurtech MGA Corvus ...
A survey of more than 8,000 consumers globally by Salesforce.com's MuleSoft Inc. reveals that 62 percent of people between the ages of 18 and 34 are happy to allow ...
Corvus Insurance, an insurtech managing general agent, has released a new cyber insurance offering for organizations with up to $1 billion in annual revenue.
The new ...
Mayer Brown attorneys Dan Masur, Brad Peterson, and Donald Moon recently co-authored a chapter on “DOs and DON’Ts for Big Data Analytics” in Mayer Brown’s new ...
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 ...
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 ...
2018 Outlook: Cybersecurity and Data Privacy, a Mayer Brown report [Mayer Brown]
Amazon-Berkshire Hathaway-JP Morgan Target Healthcare [The New York Times]
NAIC ...
Proposal for NAIC Model Act on Insurance Innovation [Mayer Brown’s Insurtech Team]
NASDAQ May Bring Its Trading Technology to the Reinsurance Market ...
The Chicago Tribune sat down with Gary Hallgren, president of Chicago-based Arity -- a year-old Allstate tech startup that uses smartphone apps and add-on devices to ...
Hartford InsurTech Hub, the accelerator launched by Startupbootcamp in September, has announced which 11 startups will participate in the incubator’s first program, ...
Dissecting NAIC’s Insurance Data Security Model Law : Mayer Brown's Larry Hamilton, Jeff Taft, Matt Bisanz and Evan Sippel-Feldman dig into the NAIC’s Insurance Data ...
Allstate has announced a partnership with Carpe Data, a California-based company that uses fully automated data and predictive scoring products to allow insurance ...
Regulators & Innovators Come Together in Silicon Valley [Mayer Brown's Insurtech Team] – Related: If you missed last week’s @Insurtech Snapshot, read our ...
In order to encourage "collaborative prevention" with customers, AXA has launched a new tool that makes its loss data statistics publicly available on the "Give Data ...
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 ...
As sensor technologies move into every day use some insurance companies are starting to demand America's truck drivers allow them to monitor their driving habits or ...
Bylined article by London Intellectual Property & IT Partner Oliver Yaros on the opportunities and legal risks when embracing new technology. Read the article here.
The Financial Times discusses how insurers predict Big Data and technology will change the insurance industry and what these changes mean for the future of ...
McKinsey & Company provides insights into how Big Data and advanced analytics will enable life insurers to better serve customers.
Read the report here.
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, ...
Last month, the New York State Department of Financial Services (the “DFS” or “Department”) became the first US regulator to impose specific, substantive ...
In late December, Ohio became the second state to adopt the National Association of Insurance Commissioners’ (NAIC) Insurance Data Model Law, joining South Carolina in ...
The use of artificial intelligence (“AI”), which may be defined as the development of computer systems able to perform tasks normally associated with human ...
Big data is top of mind at virtually every company and is often described as one of a business’s most valuable assets. In spite ...
