Data analytics
This Week: Stoic London
The generosity and heroic nature of Londoners came to the fore this week, when after two recent terrorism attacks the city saw the worst fire in recent history. Firefighters were heralded for entering the 24-storey flaming building and the community came…
Blog: Mobile apps for insurers, golden or poisoned chalice
Not every insurer needs an app. Antoine Hemon-Laurens, mobile consultant at GMC Software, lists the four questions you should ask yourself to decide whether it is the right tool for your company.
GDPR could stall insurers' efforts to use data analytics and machine learning
The General Data Protection Regulation could stall the industry’s efforts to use artificial intelligence and Big Data to enhance their propositions.
Blog: How artificial intelligence will simplify insurance
While insurance is becoming ever more complex, insurers are being disrupted by digitally-led start-ups simplifying what insurers do for customers. Mike Downing, chief technology officer for the WPA Group, envisages long and complex policies with drawn…
Roundtable: Digital is an attitude
Being a digital insurer isn’t about the aptitude but the attitude. This was the conclusion of a roundtable I chaired recently for Post, in conjunction with SSP.
BLM Law to use machine learning and data analytics to predict outcome of claims litigation
BLM law firm has successfully put together a data analytics platform led by Artificial Intelligence in order to help predict the result of litigation that could arise from claims.
Insurers expecting ransomware claims to increase following Wanna Cry hack
Cyber attacks carried out with ransomware are becoming more common with the number of ransomware claims rising to 22.4% in 2017, CFC Underwriting has said.
AIG's Anthony Baldwin on claims, actually
Technology and innovation are important to the insurance sector but Anthony Baldwin, CEO of AIG, says while concentrating on these insurers must not lose sight of what is important to the customer: the claim.
Lemonade increases customer base by 43% eight months after its launch
Lemonade has grown its customer base by 43%, eight months since its launch in America, beating its annual target.
Blog: Empowering customers through digitisation
Insurtech has arrived. There are daily headlines speculating how the technological revolution will impact the insurance industry and there’s no question that it will. In the second blog of this four-part series, Rachel Riley, managing director of global…
How insurers can protect themselves against cyber threats
In the current cyber insecurity, insurers need to review their management structure and their risk processes to protect their data and their customer’s data, say Matteo Coppola and Ofir Eyal, partners at the Boston Consulting Group.
In Depth: The GDPR time bomb
The implementation date of the General Data Protection Regulation is less than a year off but the industry’s attention is elsewhere, with issues like Brexit, the General Election and the discount rate looming large on the horizon
Roundtable: Digital: Brokers - Surviving the digital age
At a time when regulation and taxes are weighing heavily on their operations, brokers find they have to adapt to the digital age. At a Post roundtable, in association with SSP, they discussed how they can leverage new technologies to better serve their…
My other life: Sean O’Regan, Scope Technologies, botany and zoology
O’Regan is a team leader at the telematics provider, with an interest in zoology and botany
Majority of UK businesses 'will not be compliant' in time for GDPR
Less than a third of businesses have started preparing for the General Data Protection Act despite the deadline being less than a year away.
Insurers at risk of losing two thirds of previous customer data due to GDPR
Insurers will have to delete two thirds of data that they hold on customers and risk losing a vital sales pipeline under the General Data Protection Regulations that come into place on May 2018, according to research from Consumer Intelligence.
Aviva plans to tackle dual pricing with Ask It Never service
Aviva is planning to tackle the issue of dual pricing with its Big Data-driven Ask It Never service and offer customers a fixed level pricing when they renew their policy.
ABI in talks with the ICO to set up anonymised cyber incident platform
In response to the Wanna Cry ransomware attack, the Association of British Insurers has reiterated its calls for an anonymised cyber incident database once the General Data Protection Regulation comes into effect.
Blog: Connected homes should get cheaper premiums
Connected devices could help household insurers offer cheaper premiums to responsible homeowners, says Craig Foster, managing director of Homeserve Labs.
Insurtech start-up Sherpa partners with Gen Re to offer tailored policies
Insurtech start-up Sherpa has partnered with Gen Re in order to provide tailored risk coverage scores personal lines insurance policies.
Blog: Automated claims aren't outlandish
Digital advances will allow insurers to automate smaller claims, predicts Graham Gibson, chief claims officer at Allianz, warning that technological agility and customer focus will be key to survival.
AI unlikely to wipe out jobs but will have 'significant' impact on insurance industry
Investment into Artificial Intelligence start-ups has gone up by 80% since January last year but there is some time to go before technology wipes out jobs in the industry.
Hood Group gets government funding for AI and machine learning project
Hood Group has secured over £96,000 in government funding from Innovate UK that will help it develop data and Artificial Intelligence services.
In Depth: Insurtech gold rush
Reinsurers are injecting more money into start-ups to get a foothold in insurtech - and the disruptors are welcoming the investment from these flexible partners.