Insurtech news August week 2
For yet another week in a row we’re seeing more expansion from insurers with ERGO the latest to make a move into unchartered territories. Following on from other insurers’ M&A activity it’s exciting that we’re still seeing insurers invest and try to innovate their way out of the current economic crisis that’s overshadowing global activities.
From a technology perspective it’s unsurprising that Generative AI ranks very highly for insurers in terms of emerging risks. As we learned from our conference in Barcelona, Generative AI could be highly dangerous. Bad actors could use it to commit fraud both against the average consumer but also use consumer information to defraud insurers. Dangers within; dangers outside. However, it’s important to realise that this technology can be highly beneficial for all. While recognising the risks of Generative AI, it’s important to harness the benefits that it can give businesses and those who find the perfect balance between risk and reward will end up having the biggest competitive advantage as the years march on. Which businesses will take the leap is still unknown, but we’re watching with baited breath.
NeuralMetrics unveils Lessor’s risk data solution for efficient underwriting – August 11th
Gen AI ranks second in top emerging risks for Q2 2023, Gartner finds – August 11th
HDFC ERGO partners with Duck Creek for India expansion – August 14th
How to keep your portfolio cyber-secure during the summer season – August 15th
Motor insurance prices at record high – ABI – August 11th
Aviva bosses Blanc and Winslow see Lloyd’s benefit – August 17th
Admiral Group reports H1 results – August 17th
Aktia Life Selects Sapiens to Transform its Core Life Insurance Systems – August 16th
Demex Raises $5 Million to Bring Breakthrough Retained Climate Risk Reinsurance (RCR Re) Solution to Market – August 16th
Unlocking the future: How QR code authentication boosts security – August 16th