Artificial intelligence (AI)
Almost all claims handlers believe AI is creating fraudulent claims
94% of UK insurance claims handlers believe at least 5% of claims are being fraudulently created or altered using artificial intelligence.
Seven out of 10 underwriters fear AI will take their job
Research from Hyperexponential has revealed that 69% of underwriters are concerned about being replaced by artificial intelligence in the next five years.
Cyber market to harden ‘as early as Q1 2025’
Research from Gallagher Specialty has warned there could be a shift in the cyber insurance market by as early as Q1 2025.
Twenty firms face off for Lloyd’s Lab spots
The Lloyd’s Lab pitch day for its 13th cohort saw 20 firms go head-to-head for one of 10 spots in the market’s 10-week fast track programme for “fresh ideas” to challenge the insurance industry.
Applied now ‘more mature’ when dealing with AI
Anupam Gupta, chief product officer for Applied Systems, has said the company and wider market is more mature now when talking about artificial intelligence than it was a year ago.
Verisk boss urges testing of AI data to avoid discrimination and bias
Verisk’s head of analytics for underwriting solutions has told the industry to use broad and representative data sets to avoid “disparate outcomes and unfair discrimination” when developing AI models.
Allianz’s Côté on the insurer of the future
View from the Top: Nadia Côté, UK managing director of Allianz Commercial, outlines how changing customer needs, new technology and emerging risks will shape insurers over the next decade.
CoreLogic’s Garret Gray on what the future holds for insurance
The president of global insurance solutions at CoreLogic, Garret Gray, gives Saxon East the lowdown on INTRConnect Europe and what the future potentially holds for the insurance industry.
Lessons for insurers to learn from social media use of AI
Going head-to-head with artificial intelligence is pointless, according to Sarah Bateman, head of data and AI for Altus Consulting, who argues we need a blend of AI efficiency with human re-assurance to be successful.
Longworth’s AI Code of Conduct has a ‘shelf life’
Eddie Longworth’s voluntary artificial intelligence (AI) code of conduct for the claims industry has a “shelf life”.
AI adoption is ‘running before walking’ for Charles Taylor InsurTech clients
Charles Taylor InsurTech’s mature clients are not ready to embrace artificial intelligence (AI), according to CEO Arjun Ramdas.
Ageas’s Clarke on what GenAI means for fraud
View from the Top: Adam Clarke, chief underwriting officer at Ageas UK, says artificial intelligence is a double-edged sword in the fight against fraud.
Q&A: James Eveling, Woodgate & Clark
James Eveling, managing director of loss adjuster Woodgate & Clark, addresses the war for talent and discusses the firm’s growth plans plus its new claims system.
Brown & Brown sets $8bn revenue target
Speaking at the Managing General Agents’ Association conference in London, Brown & Brown president and CEO Powell Brown told the audience the broker’s ambitious revenue targets.
Post Claims Club Podcast: Shift Technology’s George Robbins
In the first of a series of interviews with key figures in the claims space, Post content director Jonathan Swift caught up with Shift Technology’s new head of UK markets George Robbins.
One-in-10 specialty insurers expect to scale AI use in 2025
Oxbow Partners has predicted that 2024 will be a year of divergence for the use of generative artificial intelligence in the specialty insurance and reinsurance markets.
Pain points in deploying AI models in insurance
Darran Simons, head of insurance EMEA at Fico, explains the ongoing challenges that are hindering deployment of artificial intelligence and delaying execution of programmes in general insurance.
Why loss adjusting is not just a science – it is an art
While technology has created new ways of carrying out inspections, accessing information and communicating, how loss adjusting has managed to remain an art rather than simply a science is explored in the latest Insurance Post Podcast.
Davies refinances £1.5bn debt facility to buy more businesses
Davies has agreed a £1.5bn refinance of its debt facility, slashing its interest bill, extending debt maturities, and securing extra credit to buy more businesses and develop artificial intelligence solutions.
Insurers should stop looking at AI as a cost-saver
Eddie Longworth, the founder of JEL Consulting who launched the Artificial Intelligence Code of Conduct earlier this year, says the insurance industry hasn’t realised the “conundrum” about using AI and the need for talent to operate it.
Digital claims: closing the loop from FNOL to settlement
Technology is transforming the ease and efficiency of the insurance claims process. But there’s still a balance to be found between light touch and human touch. Saxon East reports.
Harnessing responsible AI in the insurance industry
Trade Voice: Ann Dingemans, lawyer at Kennedys and Fleur Rochester, Kennedys partner and president of the London Forum of Insurance Lawyers, look at how insurers can take advantage of artificial intelligence in the right way.
Axa reveals AI pilots being rolled out across business
Axa has more than half of its artificial intelligence use cases already in production, according to Axa XL chief innovation, data analytics officer Ashok Krishnan.
Digital Bar Quarterly: Could AI help deliver “out of the insurance world customer experience”?
Insurance companies need to get out of the digital innovation slow lane and look beyond incremental change if they are to reap the full benefits of AI, according to Altus general insurance director Mark McDonald.