Reinsurance News
Artificial intelligence in insurance and reinsurance news
Read all of our news on the growing use of artificial intelligence technologies in the insurance and reinsurance industry.
Artificial intelligence (AI) promises to enhance risk modelling and data analytics capabilities for insurers and reinsurers, while also offering new ways to deliver insurance and reinsurance products and support customers as well.
In addition to the use of artificial intelligence (AI) to enhance underwriting and operations, insurance and reinsurance market participants are also increasingly focusing on product development to provide risk transfer protection to support the AI and tech data centre build-out, seeing this as a significant and growing opportunity.
European re/insurers support use of ethical AI: Insurance Europe
7th August 2020
European re/insurers have shown that they are supportive of artificial intelligence (AI) but have expressed views on where ethics should be followed. AI is already being used by insurers and reinsurers to help improve customer service, increase efficiency, provide greater insight into customer’s needs and to prevent any cases of fraud. Insurance ... Read the full article
Swiss Re & OneConnect to collaborate on Smart Claims for Europe
5th August 2020
OneConnect Financial Technology Co., Ltd., an associate of China's Ping An Group, is set to partner with reinsurance giant Swiss Re to co-develop a digital end-to-end solution for motor claims handling for the European marketplace. The solution will be based on artificial intelligence (AI) and advanced data analytics, with the two ... Read the full article
Verisk & PartnerRe leverage AI to transform life insurance underwriting
25th October 2019
Data analytics provider Verisk has collaborated with Bermudian reinsurer PartnerRe on the development of its new life insurance solutions, which, use advanced voice analytics and artificial intelligence (AI) to transform both underwriting and the customer experience. Under the new partnership, PartnerRe is set to test new tech that is able to ... Read the full article
Munich Re sees new possibilities for managing risk in data & AI
21st October 2019
Reinsurer Munich Re sees data analytics and artificial intelligence as key tools to open up new possibilities for managing and covering risk, and for supporting insurers across the entire value chain. “At Munich Re, our goal is to pioneer digital solutions for the insurance industry,” said Doris Höpke, Member of the ... Read the full article
Aon introduces AI-powered claims analysis platform
25th September 2019
Global re/insurance broker Aon has announced the launch of ClaimsMonitor.X, an artificial intelligence-driven platform that can quickly analyse claims notes and provide insights into an insurer’s efficiency and profitability. The platform, available to insurers in the US and Canada, has been developed in collaboration with CLARA analytics, a provider of AI ... Read the full article
Insurers should engage with public on appropriate AI usage: CII
25th September 2019
Re/insurance industry body the Chartered Insurance Institute (CII) has argued that the profession should engage with the public to reach a consensus on what constitute a responsible use of artificial intelligence (AI) and data. The recommendation follows a report for the Centre for Data Ethics and Innovation, which examined the potential ... Read the full article
Acrisure partners with Tulco on AI-powered brokerage platform
20th September 2019
US insurance broker Acrisure has partnered with investment company Tulco Holdings to launch Altway Insurance, a direct-to-consumer brokerage platform that is fully supported by artificial intelligence (AI). Altway also plans to work closely with Google Cloud AI to support the automation of client-facing operations, marketing, sales and product-distribution channels. This integrated AI ... Read the full article
Canopius to integrate Arturo’s deep-learning property analytics
12th August 2019
Specialty insurer and reinsurer Canopius AG has entered into a partnership with artificial intelligence (AI) and deep-learning property analytics start-up, Arturo. According to an announcement on the new arrangement, Arturo's deep-learning property analysis capability will be integrated into Canopius. The integration is expected to provide the re/insurer with physical property characteristic and ... Read the full article
CLARA names new CEO as Lakshmikanthan becomes Chief Product Officer
2nd August 2019
CLARA analytics, a provider of artificial intelligence-driven (AI) technology in the commercial insurance space, has revealed Gary Hagmueller as its new Chief Executive Officer (CEO), as founder Jayant Lakshmikanthan transitions to the role of Chief Product Officer. Hagmueller brings more than two decades of industry experience to the role and has ... Read the full article
Beazley to partner with obstetrics AI firm PeriGen
24th July 2019
Specialist insurer Beazley is partnering with PeriGen, a developer of artificial intelligence-driven systems for obstetrics. The agreement will provide Beazley’s US healthcare clients with an early warning system for labor and delivery. PeriWatch Vigilance works alongside any existing electronic fetal monitor and assess long-term trends in fetal heart rate, contractions, maternal vitals ... Read the full article
Aon targets reduced workers’ comp claim costs via AI
24th July 2019
Global insurance and reinsurance brokerage Aon has taken steps to reduce workers' compensation litigation costs via the expansion of its strategic relationship with CLARA analytics, a provider of artificial intelligence (AI) technology in the commercial insurance space. Aon's Casualty Laser Diagnostic tool reveals that attorney involvement on a workers' comp claim ... Read the full article
Convex partners with Cytora on AI-powered commercial underwriting
15th July 2019
Convex Group Limited, the international specialty re/insurer set up by Stephan Catlin, has partnered with insurtech firm Cytora to develop artificial intelligence (AI) powered solutions for commercial insurance. Using Cytora’s AI-driven platform, Convex hopes to enhance its commercial underwriting process, using data to achieve a more accurate view of risk ... Read the full article
Aon targets improved customer engagement with Hi Marley partnership
21st June 2019
Global re/insurance brokerage Aon has entered into a strategic alliance with Hi Marley, an insurance-focused conversation platform that leverages industry-specific artificial intelligence (AI) and functionality to improve customer engagement. In response to policyholders demanding faster and more efficient ways to speak with their insurance company through the cycle of their policy, ... Read the full article
Munich Re backs French satellite imagery home insurer, Luko
18th June 2019
Global reinsurance giant Munich Re has partnered with French InsurTech Luko on the launch of its artificial intelligence (AI) driven satellite imagery home insurance. Luko describes itself as France's first neo insurance, and since the AI powered InsurTech launched roughly one year ago, it's already attracted 10,000 customers in France and, ... Read the full article
AI will help automate bespoke policies: Lloyd’s Trevor Maynard
17th June 2019
Artificial intelligence (AI) will create some “interesting possibilities” in terms of automating how the insurance market delivers bespoke products, according to Trevor Maynard, Head of Innovation at Lloyd’s. Speaking at the MMC Rising Professionals’ Global Forum in London last week, Maynard addressed the “wave of technology” currently sweeping across the market, ... Read the full article
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