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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Agents and professionals are advised to keep up with technology – this will be sure to help with running an agency or brokerage. Learn what company is coming out with the latest claims program or risk mitigation software.
Tesla Insurance rolls out driver safety score to Californian customers
The electric carmaker insists that the tally is being used exclusively for “educational purposes.” Tesla Insurance recently announced that it has rolled out its controversial driver safety score to its customers in California, the largest market for the coverage. The score is based on real-time tracking of driver behaviors while using the vehicle. According to Tesla Insurance, the driver safety score’s purpose is for education only, and that it will not impact driver premiums for the moment. The electric automaker has been selling its coverage in California for some time…
Read MoreCyber insurance market is stalling as risk rises
Insurers are facing tighter margins and larger losses as they place a greater reliance on reinsurance. As risks rapidly rise, cyber insurance companies are watching their losses rise and their margins tighten. At the same time, insurers are placing a heavier reliance on reinsurance to mitigate their own risks. Though the coverage is becoming essential for businesses, it is dropping in appeal for insurers. For many businesses, cyber insurance is becoming harder to find. In fact, even compared to just one year ago, it’s more difficult to find affordable coverage.…
Read MoreIMA Financial Group unveils first metaverse insurance and risk management R&D facility
The Web3Labs has now opened in Decentraland, which is a blockchain tech-based virtual world. IMA Financial Group recently announced that it is launching the first metaverse insurance and risk management research and development facility, which it has called the IMA Web3Labs. The new Web3Labs R&D facility was funded by the IMA’s investment arm, IMA Investments Inc. The metaverse insurance R&D facility will be located in Decentraland, which is a blockchain technology-based virtual world. The goal for Web3Labs is to set new industry expectations for the testing, exploration and bringing to…
Read MoreMedOrion announces first US health plans HBM software platform
The announcement created a new insurance category for the Rise National conference today. MedOrion has announced that it has developed the first AI-based Health Behavior Management (HBM) platform for US-based health plans. The company specializes in guiding members toward better medical and wellness decisions. The platform helps health plans to better understand the concerns and motivators of their members, embedding them into every component of their business. The SaaS AI platform breaks complex real world data, member behavior, and healthcare environmental changes down into usable information. This way, it can…
Read MoreState Farm teams up with Ford for usage-based insurance
The Drive Safe & Save Connected Car program will use telematics tech to adjust premiums. State Farm and Ford have announced that they have jointly launched a usage based insurance (UBI) program for drivers called the Drive Safe & Save Connected Car. The UBI program is available to drivers of connected Ford or Lincoln vehicles. State Farm customers driving the eligible connected Ford vehicles can choose to opt in for usage based insurance. The UBI program uses telematics to adjust premiums to reflect that vehicle’s mileage and its drivers’ unique…
Read MoreAIA health insurance company says Apple Watch wearers are more active
The fitness tracking smartwatch wearers move 51 percent more than those without a tracker. AIA health insurance company in Australia provides its customers with Apple Watches and is now showing that wearers are as much as 51 percent more physically active than non-wearers. The insurer showed that the impact of the fitness tracking was particularly helpful among those over 50. A report released by the AIA Australia health insurance company showed that people aged 50 years or older increased their physical activity by an average of 51 percent once they…
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