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 ...
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 ...
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 ...
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 ...
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, ...
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 ...
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 ...
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 ...
The Latest from Mayer Brown Regulatory Corner: California Attorney General Releases Proposed Regulations for the CCPA [Mayer Brown] Cyber Resilience for Insurers - ...
A recent report, highlights an emerging trend of start-ups offering on-demand policies that allow customers to buy insurance by the hour, day or week. Variations can be ...
New data from research forecasts immense growth in artificial intelligence ("AI") underwritten insurance premiums.
The study predicts that the value of AI ...
While most companies are squarely focused on the California Consumer Privacy Act (CCPA), 2019 has seen other major developments on data privacy and security. Several ...
As companies digitize businesses and automate operations, cyber risks proliferate, necessitating cybersecurity organizations to support a secure digital agenda. ...
In the world of intellectual property rights, there are cracks the law doesn’t reach—areas that do not sit squarely within copyright, patent, or trade secret law. ...
The Latest from Mayer Brown Regulatory Corner: Acquiring Ownership – Considerations in Acquiring a “Controlling” Interest in a US Insurance Company [Insurtech by ...
Artificial intelligence (AI) is the newest golden child in technology. While definitions abound, we will define artificial intelligence as "the theory and development of ...
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 ...
Carmakers are installing cameras and other monitoring technology in vehicles to help tackle the rising problem of distracted driving.
Volvo plans to roll out new ...
Traditional insurers are utilizing technology to improve customer experiences and business functions in greater numbers. Allstate reports that 60% of claims are handled ...
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 ...
Where do insurers stand as they enter 2019?
In Deloitte's 2019 report, this question is explored, among many more, regarding how the insurance industry must transform ...
The 2018 McKinsey Digital Insurance Compendium synthesizes highlights from the past year that demonstrate the progress that has been made in reinventing the insurance ...
Machine learning and predictive analytics is helping the health insurance company identify customers likely to overdose.
Cigna Corp. is using artificial intelligence ...
Concirrus, the marine analytics insurtech company, has agreed to work with TransRe, the global reinsurer, to jointly develop innovative data-driven reinsurance ...
Through a new partnership, QBE Insurance Group will be offering its small and medium enterprise (SME) customers access to a comprehensive cybersecurity platform.
The ...
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 ...
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 ...
Cyberattacks are more costly than the reoccurring damage from natural disasters: US$3 trillion in 2015, a price that is projected to climb to $6 trillion annually by ...
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 ...
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 ...
One of the world’s largest stock exchanges, Nasdaq, has announced that it has made a $190 million public offer to Swedish fintech solutions firm Cinnober. As a ...
Pie Insurance, an online seller of workers’ compensation policies to small-and-medium-sized businesses, reported it has completed an $11 million Series A funding ...
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 ...
Across a variety of industries, more and more companies are building, buying and using Artificial Intelligence (AI) in their technology services agreements to further ...
Canaan Partners Launch New $20M Investment Strategy [Tech Crunch]
KPMG: Insurance Firms Eye M&A and Partnerships for Growth [KPMG]
Insurtech MGA Corvus ...
Data Critical to Insurance Value Chain: Key Quotes from Mayer Brown’s Tech Transactions Group [Business Insurance]
CFPB Exploring Fintech Sandbox ...
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 ...
Lemonade Launches First Ever Open Source Policy [Insurance Business]
QBE Pours Investment into AI Start-Up [Market Insider]
And So it Begins.. South Carolina ...
Insurance startup Lemonade has announced what it called the world's first open-sourced insurance policy. The new insurance policy, called Policy 2.0, will be open for ...
During his opening keynote for Digital Insurance’s Dig|In: The Digital Future of Insurance conference in Austin, TX, Ken Rosen, EVP and chief claims officer of ...
South Carolina became the first state to enact into law a comprehensive cybersecurity law requiring insurers to "establish a strong and aggressive program to protect ...
Bermuda Invites Insurtechs to Play in its Sandbox [Bermuda Monetary Authority]
Beazley Bets on Blockchain [Reuters]
2030: Welcome to an AI-driven Insurance World ...
Beazley has partnered with three companies to create a blockchain-based registry that will handle insurance crisis situations such as mass shootings, the companies ...
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 ...
weatherXchange – a platform owned by Speedwell Weather – has launched an instantaneous indicative pricing service for index-based weather insurance and derivative ...
Data + Risks = New ILS Deals [Intelligent Insurer, Subscription may be required]
Is Insurtech Moving Insurance From 'Grudge' to 'Nudge'? [Reuters]
Study – ...
The emergence of new technology is redefining the risk transfer industry. Munish Singla, global head of Escrow Solutions at Deutsche Bank, notes the ways in which rapid ...
Drones Descend on Houston in Harvey’s Aftermath [Claims Journal]
Predictive Analytics Help Insurers Assess Harvey Auto Claims [Digital Insurance]
New Yorkers ...
Esurance is using predictive analytics to skip adjuster inspections on auto claims related to Hurricane Harvey. Images captured from planes equipped with cameras are run ...
Insurtech start-up Gryphon Group Holdings has raised £180 million (US$229 million) in funding to develop an "insurance challenger" that will focus on life, critical ...
Allianz gains liability risk ID tool [Insurance Journal]
AIG has data-analytics on its mind [Insurance Journal]
Sherpa/Gen Re partnership takes aim at the ...
Through AIG's merger with Hamilton USA, AIG has agreed to further invest in Attune, a investment unit it created last year with Hamilton and Two Sigma Investments. ...
Allianz Global Corporate & Specialty SE (AGCS), is working with Praedicat, the Los Angeles-based insurtech analytics firm, to better predict key catastrophe ...
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 ...
Zurich has partnered with BAE to implement BAE's NewReveal system. NetReveal uses data analytics to uncover hidden links and potential fraud.
Learn more about ...
As insurtech continues to emerge as one of fintech's most dynamic sectors, incumbent providers are under increasing pressure to adjust to a more digital ...
McKinsey & Company evaluates areas of risk that US commercial lines insurers will have to address in order to enhance the value they deliver and develop new ...
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 ...
