Technology & Analytics
IBM $3B ‘Internet of Things’ Unit, Weather Co. Alliance to Benefit Insurers
IBM is investing $3 billion to build an "Internet of Things" division aimed at harnessing the massive trove of data collected by smartphones, tablets, connected vehicles and appliances and using it ...
AIR Worldwide and FirstBest Collaborate on Integrated Underwriting Product for Commercial Insurers
AIR Worldwide and FirstBest Systems, provider of insurance software solutions for U.S. and global insurance carriers, have announced a collaboration that will integrate AIR's catastrophe modeling ...
Hochberg Moves Up as CEO of JLT Re in North America
Global reinsurance broker JLT Re announced last week that Ed Hochberg has been appointed as CEO of JLT Re in North America. Hochberg, who joined JLT Re as part of the 2013 Towers Watson Re ...
Risky Snapshot Drivers May See Rate Hikes, Progressive Says
Progressive Corp., the fourth-largest U.S. auto insurer, said it will begin increasing rates for some risky customers who participate in a program that allows the company to electronically monitor ...
CNA Launches Quote Advantage Tool for Small Business Segment
CNA on Friday unveiled its new Quote Advantage tool, the latest upgrade for CNA Central, the company's online automation platform for independent agents. According to a company statement, the new ...
Getting Analytical: Odds of Winning the Bracket Challenge and Uber Rates
Sadly, the chances of winning $1 billion from Warren Buffett's Berkshire Hathaway for predicting the winner of every one of the 63 games in the National Collegiate Athletic Association men's ...
Dollars and Sense: Risk-Based Pricing Helps Insurers Find Opportunities
Today, many insurers believe there is no bad risk—it just needs to be priced properly. As the market trends toward more analytic- and data-driven decisions, insurers are continually exploring ways ...
Guy Carpenter Rolls Out Casualty Cat Model
Guy Carpenter has launched a new data-driven casualty catastrophe model, GC ForCas, developed to help insurers better understand their exposure to casualty catastrophe losses resulting from the ...