TLDR: The auto insurance industry is undergoing significant changes due to rising costs, changing consumer behaviors, and increased automation. To future-proof their organizations, insurers need to optimize processes and embrace technology. Rising costs include increased inflation rates and labor challenges, resulting in higher prices for customers. Changing consumer behavior is reflected in a shift toward purchasing eco-friendly vehicles and a demand for digital services. Insurers need to leverage technology, such as artificial intelligence (AI) and automation, to retain customers and stay competitive. Implementing automation, such as chatbots and virtual assistants, can meet customer expectations and improve efficiency. Embracing technology can also contribute to sustainability efforts and paperless claims processes. The auto insurance industry is undergoing a digital transformation, and companies need to adopt technology to navigate this change.
Level up auto insurance with automation to future proof industry.
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Your Daily InsurTech Briefing – 2024-07-26
Let’s see what’s in the news today. US insurtech company Embroker launches real estate insurance programme Embroker, a US digital insurance company, has introduced an insurance programme, specifically designed for real estate agents
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Prepare for surge in travel insurance claims due to tech outage
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Revolutionize insurance with these 5 game-changing mobile tech trends.
TLDR: Mobile technology is transforming the insurance industry by enhancing customer experience, enabling advanced analytics, integrating blockchain for security, leveraging IoT for real-time monitoring, and deploying AI and machine learning for improved
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Insurers tackle climate risks with satellite solutions for smoother operations.
TLDR: Insurers are facing challenges due to climate risks and extreme weather events Satellite technologies are now offering cost-effective solutions for risk monitoring and assessment In a world where global temperature records
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Cover Genius and Priceline team up for travel insurance convenience.
TLDR: Cover Genius and Priceline Partner Up on Travel Insurance Cover Genius and Priceline have announced a new partnership in the USA and Canada to introduce enhanced travel protection for flights, hotels,
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US insurtech Embroker launches exciting new real estate insurance programme.
TLDR: Embroker, a US digital insurance company, launches real estate insurance program. The program offers professional liability, cyber, business owners’, and workers’ compensation coverage. In May 2024, Embroker conducted a survey with
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Your Daily InsurTech Briefing – 2024-07-25
Let’s see what’s in the news today. Hiscox appoints new VP for technology E&O and cyber He brings nearly two decades of expertise in the role Read the original article here Insurers
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Meet Clive™ – The Insurance Industry’s AI Claims Adjuster Pioneer.
TLDR: Five Sigma has introduced Clive™, the insurance industry’s first AI-powered claims adjuster. Clive revolutionizes claims processing with AI and automation, setting new benchmarks in efficiency, accuracy, and cost reduction. Five Sigma,
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MSI chooses Akur8 for better insurance pricing decisions.
TLDR: Akur8’s innovative insurance pricing solution selected by Millennial Specialty Insurance (MSI) to streamline decision-making processes. Partnership to enhance pricing capabilities, deliver competitive rates, and expand within the U.S. personal insurance market.
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MSI enhances insurance decision-making with Akur8’s innovative pricing tool.
TLDR: Akur8’s next-generation insurance pricing solution will be used by Millennial Specialty Insurance (MSI) to streamline decision-making processes within its pricing team. Akur8’s solution utilizes proprietary machine-learning technology to accelerate model building,