Artificial intelligence (AI)
Insurers need to solve ‘core problem of data’ before immersing into generative AI
Boris Krumrey, global vice president of automation innovations, Ui Path, has revealed how insurers need to tackle legacy systems before trying to implement generative artificial intelligence into their business.
It’s insurtech Jim, but not as we know it - Lemonade’s PRA authorisation shows intent
Content director's view: Jonathan Swift looks at Lemonade's landmark PRA authorisation and two second claim record and contemplates whether the once start-ups trek to the mainstream is entering the final frontier.
EU moves forward with AI regulation
The use of artificial intelligence in the EU will now be regulated by the AI Act to ensure that AI developed and used in Europe complies with EU rights.
Industry-specific GPT ‘only way’ to mitigate security risks
Simplifai has stressed that specially built industry-specific GPT, which is trained on insurance data, can alleviate AI concerns and tackle security and data privacy issues.
Q&A: Thomas Hauschild, Omnius CEO
A self-confessed ‘claims nerd’, former chief product officer Thomas Hauschild took over as CEO of claims automation insurtech Omnius in February. He talks to Jonathan Swift about taming the legacy systems ‘animal’, and finding shortcuts to get the best…
Rise of the AI insurers
David Worsfold examines can how artificial intelligence can be used to reimagine the insurance experience for customers, transforming it from a transactional, reactive model to a proactive, more personalised one.
Jensten and Hiscox partner; Aston Lark buys HNW book; Axa XL appoints reinsurance CEO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Are you ready for the rise of robo-insurers?
Editor’s View: Emma Ann Hughes examines how artificial intelligence has the potential to disrupt the entire traditional insurance value chain and wonders whether human insurers are ready for it?
AI will make staff ‘superhuman’ but customers will still be ‘light years ahead’
Industry experts have highlighted the opportunities artificial intelligence can bring, but warn insurers could be missing what customers really need in the long term as they grapple with the new tech.
Should insurers heed the AI ‘nuclear’ threat warning – or carry on regardless?
Content director’s view: Jonathan Swift digests the Terminator-esque warnings over the growing use of AI and contemplates what they might mean for insurers and their customers.
Insurers putting ‘words into action’ utilising generative AI
More than half of insurers are already using generative AI in their organisation, according to research from Sprout AI and Opinum.
Media risks in the digital age
Analysis: David Worsfold examines the implications of the Online Safety Bill for insurers of content creators, publishers, website hosts and social media platforms.
How AI is shaping the future of insurance
With digital technologies disrupting every part of the insurance value chain, Vinay Nagwekar, director of insurance at Atos, considers how AI is shaping the future of insurance.
AI could become the ‘wild west of tech’ if it is not used appropriately
Artificial intelligence could take on unexpected behaviours, leaving consumers being treated unfairly with vulnerable customers hit the hardest, industry leaders claim.
Experts say AI has potential to ‘unlock’ legacy systems
Artificial intelligence could finally solve longstanding industry legacy systems issues and insurers who don’t get on board will be missing out, experts claim.
Trade Voice: Foil’s Simon Murray on unanswered questions around AI
Simon Murray, chair of the Forum of Insurance Lawyers’ cyber and technology sector focus team and partner at DWF, asks whether insurers ought to be wary of providing cover for ‘black boxes’ in the emerging AI sector.
Howden’s Peter Blanc on whether AI is the answer to Consumer Duty compliance
Peter Blanc, executive chairman of Howden UK and Ireland, examines the challenges inherent in the forthcoming Consumer Duty and asks whether artificial intelligence could help the industry meet its demands.
Insurtechs raise fears over AI regulation
Insurtech chiefs have raised concerns about the government's plans to regulate artificial intelligence, warning red tape could restrict innovation.
How artificial intelligence affects the art insurance industry
With artificial intelligence increasingly being used to verify the authenticity of works of art, Sam Barrett examines what owners and insurers should do when analysis and expert opinion differ on who painted a picture.
Is voice the solution to insurance fraud?
Blog: Nigel Cannings – founder of Intelligent Voice – discusses the role of machine learning and voice recognition in preventing fraud.
Percayso Inform acquires Cazana; Andi sets up Oxford R&D lab; Aon appoints head of war and terrorism
Friday Round Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Use of data risks social harm, warns Lloyds Bank insurance director
The insurance industry’s increasing use of data risks is fueling financial exclusion, Lloyds Bank’s head of general insurance has said.
Insurers trapped with ill-designed systems, claims Peppercorn CEO
Nigel Lombard, Peppercorn founder and chief executive, believes insurers are trapped with processes that were designed very much on the provider’s agenda, rather than on the customer’s.
View from the Top: Markel’s Nick Line on what insurers need to get right in 2023
Nick Line, chief underwriting officer at Markel International, outlines why serving customers, recruiting talent and embracing new technology are front of mind this year.