Author: PR Article

How can insurance protect you from financial loss

PR Article
Business insurance - keyboard

Business insurance is a type of insurance that helps protect businesses from financial loss in the event of an accident, theft, or other unfortunate events. Businesses typically purchase insurance to help protect against property damage, liability, and workers’ compensation claims. Depending on the type of business, owners may also purchase additional insurance coverage to help protect against other risks, such as product liability or professional liability insurance. There are a variety of business insurance policies available, and the type of policy that a business purchases will depend on the specific…

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True Captive Insurance Selects Gradient AI to Provide Deeper Insights, Cost Efficiency for Healthcare Insurance

PR Article

Solution Reduces Costs, Enhances Risk Management, Improves Member Experience Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry announced today that True Captive Insurance, a provider of innovative healthcare solutions for employers of all sizes, has selected its SAIL™ solution to help reduce group healthcare insurance costs while maintaining a high standard of care for member companies. Driven by the desire to have more control over company insurance plans, health insurance captives, like True Captive, have recently gained in popularity and are experiencing tremendous growth.…

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Concirrus Launches AI-based Quest Property in US to Speed Claims Process

PR Article
insurance tech news insurtech

Concirrus, a leading insurtech that harnesses the power of AI, machine learning and data analytics to improve insurance… today announced the launch of its Quest Property solution in the US market available for both residential and commercial properties. Quest Property uses AI to process satellite and aerial imagery quickly and accurately, determining loss severity within hours of data acquisition. By giving greater control to the insurer, Quest Property significantly reduces the time and resources that go into the claims process while mitigating additional claim loss due to risk of fraud,…

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Property insurance shopping drops into negative figures for first time in 18 months

PR Article
insurance news report

Property and Auto Insurance Shopping Slows at End of 2021  Despite optimism at the outset of the quarter, property and auto insurance shopping trended below 2020 levels at the end of 2021. TransUnion’s (NYSE: TRU) latest Personal Lines Insurance Shopping Report found auto insurance shopping was down an average of 12.5%, while property insurance shopping dropped an average of 3.4%, compared to the same time period in 2020. Record-breaking prices for both new and used vehicles deterred many consumers from auto shopping, and in turn, reduced insurance shopping by as…

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GeoX partners with Sompo Japan to develop AI-based automated underwriting platforms

PR Article
insurance news

GeoX, a leader in supplying geospatial data to insurers Announced today a partnership with Sompo Holdings Inc., Sompo Japan Insurance Inc., and Sompo Risk Management Inc., specialty providers of property and casualty insurance and reinsurance with operations in the U.S. and 80,000 employees in 228 cities in 30 countries. This partnership will support Sompo Japan as it develops an automated underwriting methodology utilizing state-of-the-art AI technology.  In recent years, advances in geospatial data technologies such as higher resolution and 3D satellite imagery have led insurers to use data in ways…

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