Technology & Analytics
InsurTech Startups Must Realize They Can’t Disrupt Regulation
The year 2015 marked a substantial shift in insurance: in one year alone, investment in insurance tech reached $2.65 billion. This number encapsulates the immense growth happening in the start-up ...
IT Outsourcing Trends and Best Practices
Outsourcing is an important part of the insurer's CIO toolkit, and its use is widespread. Spending on external services including outsourcing continues to consume an average of 20 percent of ...
Insurers Welcome CDOs to the New C-Suite
Better late than never. Long lambasted as a technology laggard, the property/casualty insurance industry appears to be following the lead of other financial services companies like banks, accounting ...
Time to Go Virtual? Optimizing Property Inspection Programs With Digital Imagery
Before underwriting a new policy or renewing existing policies, carriers want to understand the risk associated with the property. Has the property been properly maintained or are there significant ...
Accenture and Apax Partners Team on Insurance Software Venture
Global professional services company Accenture and Apax Partners, a global private equity firm, have agreed to form a joint venture to accelerate the innovation of claims, billing and policy ...
Insurer Develops Analytics Tool to Avert Workers Comp Fraud at Onset of Claim
Nearly a quarter of small business owners have installed surveillance cameras to monitor employees and avert workers compensation fraud, according to a 2015 poll by Employers. But organized crime ...
Actuaries, Data Scientists at Odds: Novarica
With roughly one-in-three insurance companies expanding or piloting data science units in 2016, they may be facing an unanticipated problem—friction between their actuaries and data scientists, ...
Why Convective Storm Models Are Unreliable
In the United States, severe convective storms (SCS)—also known as severe thunderstorms, which can include tornadoes, hail and strong localized wind gusts—cause average annual insured losses of ...