Softbank Plans Big Push into Insurance Investments

Article 0 Comments Softbank’s Vision Fund plans to pump more money into insurance, a sector it sees as both ripe for disruption and a potential booster for its bigger bets in cars, health and financial services, a Vision Fund executive told Reuters. In the past year, the world’s biggest private […]

Global Insurers Realize Innovation Is Critical for Future Success: A.M. Best Survey

Article 0 Comments A significant majority of global insurers understand that innovation is increasingly becoming a competitive differentiator in the global marketplace, according to the results of an A.M. Best survey of its rated entities. More than 80 percent of survey respondents said that innovation was moderately to extremely critical […]

How, Why and Where Insurance Agencies Should Use Data Analytics

Article 0 Comments As the data insurance agencies and brokerages continues to grow, agency managers are faced with having to answer how, why and where they can successfully analyze and use all of this data. The answer to the “why” is simple: To grow a profitable agency book of business. […]

Did Big Data Enable Lloyd’s to Predict France’s World Cup Win? Well, Maybe…

Article 0 Comments Ahead of the recent World Cup in Russia, Lloyd’s of London predicted that France would be victorious. And victorious they were – with a 4-2 win against Croatia on Sunday. Interestingly, Lloyd’s also predicted Germany’s win against Argentina in 2014. What is Lloyd’s (possibly) infallible system? Well, […]

UK Regulator Warns Insurers, Banks About Responsible Use of Customers’ Big Data

Article 0 Comments Britain’s banks and insurers must take the lead in spelling out how they will use data collected from customers or they could face new rules, Financial Conduct Authority Chair Charles Randell said on Wednesday. Financial firms have been using Big Data on customers, which can include social […]

Chinese Tech Firms Seek to Shake Up Stake-Run Health Sector with AI and Big Data

Article 0 Comments In the eastern Chinese city of Hangzhou, an ambulance speeds through traffic on a wave of green lights, helped along by an artificial intelligence (AI) system and big data. The system, which involves sending information to a centralized computer linked to the city’s transport networks, is part […]

Auto Supplier Bosch Teams with Startup Mojio to Connect Vehicles to Digital Services

Article 0 Comments German auto supplier Robert Bosch GmbH is teaming with Canadian startup Mojio to get more vehicles connected wirelessly to a wide range of digital services, from insurance companies to emergency responders, the companies said on Wednesday. Bosch said it was investing in Vancouver-based Mojio as part of […]

Toyota’s $1B Investment in Ride-Hailer Grab Opens Door to Data-Driven Insurance

Article 0 Comments By pumping $1 billion into ride-hailing firm Grab, Toyota Motor Corp. stands to gain a passenger-side view of tens of thousands of cars across Southeast Asia, tracking how fast they drive, how far they travel and the time they spend stuck in traffic. The Japanese automaker said […]

Young Consumers Willing to Let Insurers Spy on Digital Data – If It Cuts Premiums

Article 1 Comments The majority of people between 18 and 34 would be willing to let insurance companies dig through their digital data from social media to health devices if it meant lowering their premiums, a survey shows. In the younger group, 62 percent said they’d be happy for insurers […]

Insurtech Can Help Agents, Brokers Build Their Businesses: Furtado of Ratehub.ca

Article 0 Comments In today’s increasingly digital world, consumers expect to be able to access online information on insurance products, compare prices and carrier options, and apply for coverage using a simple and efficient process. But many agencies and brokerages are falling short of providing their consumers with such easy […]