CIOs Eyeing on these Top 5 Insurtech Drifts Shaking Up European Auto Insurance

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Booming insurtech innovations are revolutionizing the way auto insurance is operating. FREMONT, CA: Insurtech startups are revolutionizing the way insurance is operating. The European insurtech industry has exploded in recent years, with several startups coming up with new products and services, easing the process of buying insurance for the consumers. Similar is the case of auto insurers, and startups are dramatically transforming this industry with innovative tech offerings. Here is more about the top innovations and ventures going after auto insurtech for the CIOs to eye on.


10 Artificial Intelligence Startups in Insurance - Nanalyze

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With somewhere around 2,000 artificial intelligence (AI) startups out there, applications have been identified across every single sector you can think of. While few industries are as mundane as insurance, it starts to become interesting in the context of using AI in insurance. On one hand, the predictive powers of AI threaten to all but replace human actuaries resulting in reduced labor costs and more accurate predictions. On the other hand, autonomous cars threaten to decimate traditional auto insurance premiums. The insurance industry is roughly divided into Life, Health, and Property & Casualty (P&C).


Grange Insurance Selects ISO Electronic Rating Content to Help Grow Commercial Lines Business

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JERSEY CITY, N.J., and Columbus, Ohio, June 24, 2019 - Verisk (VRSK), a leading data analytics provider, and Grange Insurance, an Ohio-based insurance company, announced today that Grange has selected ISO Electronic Rating ContentTM (ERCTM) to help increase speed to market and grow its commercial lines business. As a leading provider of advanced tools and analytics for the property/casualty insurance industry, ISO regularly develops and updates advisory loss costs, rules, and forms and communicates them to its customers in circulars published regularly. ISO ERCTM is an InsurTech solution that helps insurers save significant time and effort by automating the manual implementation process of these critical updates across ten commercial lines of business. "Grange continues to push the envelope when it comes to delivering new products to our agents and customers with speed and efficiency," said Gerry Heare, Grange s commercial lines chief underwriting and product officer. "ISO ERC helps us achieve that goal by keeping our rating content up to date and giving us the time to focus on growing our business."


10 Artificial Intelligence Startups in Insurance - Nanalyze

#artificialintelligence

With somewhere around 2,000 artificial intelligence (AI) startups out there, applications have been identified across every single sector you can think of. While few industries are as mundane as insurance, it starts to become interesting in the context of using AI in insurance. On one hand, the predictive powers of AI threaten to all but replace human actuaries resulting in reduced labor costs and more accurate predictions. On the other hand, autonomous cars threaten to decimate traditional auto insurance premiums. The insurance industry is roughly divided into Life, Health, and Property & Casualty (P&C).


10 Reasons Why InsurTech Is Going to Be Important

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Technology spending in the global insurance industry is estimated to be around $189 billion. By 2019, the spending industry is expected to reach $205 billion. The IT spending ratio of insurance companies as a percentage of premiums has not changed to a great extent. Insurance companies currently spend about 3.8% of their direct written premium on information technology. The average spending by insurance companies has comparatively reduced in the last four years.