INSTANDA announced today its partnership with Floatbot.AI, creator of a generative and conversational AI platform designed to enable insurers to innovate their customer journeys by building on digital portals for agents to incorporate chat, text and voice bots to further engage policyholders.
Author: Annie George
Average Commercial Lines Renewal Rates Remain Up Month Over Month
Year over year, Commercial Auto, BOP, General Liability, Commercial Property and Umbrella experienced increasing average premium renewal rates, while premium renewal rates decreased for Workers’ Compensation. All major commercial lines premium renewal rates were higher month over month.
AM Best Revises Outlook on E&S Insurance Segment to Positive
AM Best is revising its outlook on the excess and surplus (E&S) lines insurance segment to positive from stable, citing increased business due to declining capacity in commercial lines and some personal lines markets, along with strong underwriting results driving favorable operating profitability and strengthened capital positions.
Insurance Markets are Facing Strong Challenges; Strong Leadership Is Needed to Overcome: APCIA
Robert Gordon, senior vice president of policy, research and international testified today before the House Financial Services Committee’s Subcommittee on Housing and Insurance.
Microsoft Vows to Revamp Security Products After Repeated Hacks
Microsoft Corp., battered for its role in several major hacks, said it’s revamping the way it provides cybersecurity protection, using artificial intelligence and other methods to speed the company’s response to vulnerabilities and better protect customers.
Google and Epic Games Face Off at Trial Over Play Store Rules
A jury trial that threatens to upend Google’s Play Store began on Monday in U.S. court in San Francisco, where “Fortnite” maker Epic Games accused the Alphabet unit of abusing its power over app distribution and payments in violation of federal antitrust law.
ReSource Pro Releases New Research Report on AI in P&C Commercial Lines
ReSource Pro has been tracking carriers’ plans with transformational technologies for over a decade, and our new research report focuses specifically on AI investments and strategies for commercial lines in 2024 and beyond.
Insurers Face Wave of Inquiries Over Climate Risks
The nation’s property insurance industry is coming under unprecedented scrutiny with the launch of three inquiries into how climate change is causing premiums to soar and pushing insurers to withdraw from at-risk regions.
Swiss Re Reports Improved Underwriting Performance as 9-Month Net Income Hits $2.5B
A strong underwriting performance in both P&C and L&H reinsurance contributed to significantly improved net income for the first nine months of 2023 for Swiss Re, as the return on equity (ROE) rose to 25.9% for the period.
Berkshire Hathaway Insurance Operations 3Q Pretax Underwriting Earnings Jump to $5.93B
Berkshire Hathaway Inc.’s insurance operations pretax earnings increased more than 15-fold in the third quarter to $5.93 billion from $387 million a year earlier.