Live Insurance News

Spott launches new pay-as-you-sell ecommerce insurance model

November 15, 2022November 14, 2022 H. Cutner

The insurer has rolled out a novel premium calculating for online businesses to pay based on what they sell. Ecommerce insurance company Spott has announced the launch of a new Pay-As-You-Sell liability insurance model. The coverage lets digital businesses pay premiums based specifically on how much they sell. The design of this ecommerce insurance is such that an online company will pay liability coverage premiums based on how much they sell and will never have to pay higher than their original premium amount. As a result of this pricing model…

2023 Global Insurance Symposium to Focus on ‘Thriving in a Changing World’

November 14, 2022 PR Article

April 18-20 event to feature new tech, industry leaders & networking Des Moines, Iowa, November 14, 2022: The Global Insurance Symposium (GIS) announced its 2023 conference will be held on April 18-20 at the Community Choice Credit Union Convention Center in Downtown Des Moines. This event draws insurance leaders from around the world for three days of keynotes and panel discussions led by preeminent executives and dignitaries on pressing issues facing the industry, interactive demonstrations of new technologies and opportunities for attendees to help shape the future of insurance. Presented…

Swiss Re seeks creation of cyber insurance linked securities marketplace

November 10, 2022November 9, 2022 Nordstrom

The global reinsurance giant has stated that the industry needs a new approach to underwriting cyber risk. Swiss Re has issued a call to the industry saying that a new approach is required to underwrite cyber risk while repeating is recommendation for the development for a cyber insurance linked securities (ILS) marketplace. The reinsurance company released a new Institute report including its insights and suggestions. The reinsurer stated in a new Institute report that the cyber risk model is still in its early days and that it has become evident…

State Farm insurance company sues Amazon over patent infringement

November 9, 2022November 8, 2022 Marc

According to the insurer, the online marketplace willfully infringed on patented tech. The State Farm insurance company has filed a lawsuit against Amazon, accusing the ecommerce giant of having “willfully infringed” on State Farm patented technology at the core of Elder Care Technology in order to offer a competing product. The insurer filed the lawsuit against Amazon and affiliated companies for patent infringement. The insurance company’s lawsuit has to do with the tech innovations incorporated into the Sundial product. This represents the first time the insurer has ever filed a…

Allstate places spotlight on identity fraud risk from fake job offers

October 13, 2022October 12, 2022 Nordstrom

The insurer recently found that almost 1 in 4 US workers have been contacted by these scammers. Allstate Insurance recently published its quarterly Identity Fraud in Focus report, in which it surveyed 2,200 American adults and found that 17 percent of them had seen or been contacted by a suspicious job opportunity in 2022. Those most commonly targeted by these remote employment scams were adults aged 18-34 years. The research was conducted August 27-August 28, 2022 on behalf of Allstate by Morning Consult. According to the findings, scammers have identified…

What Is an AI Core?

September 27, 2022 Guest Author

Start off quickly, save money on computing, and simply scale to very large IPUs as needed. To help developers everywhere make new strides in artificial intelligence, G-Core Labs cloud services are now accessible with free trials and a variety of payment options. An easy method to add current AI computing on demand without having to set up on-premises hardware or create an AI infrastructure from start is through the use of the scalable cluster known as the Core AI. Features and Benefits… There are many advantages of a dedicated cloud-based…

Fast-Growing Gradient AI Announces Continued Momentum Built on its AI Solutions that Transform Insurance Claims and Underwriting

September 20, 2022September 21, 2022 Company Growth Story

– Revenue Grows More Than 100% in First Two Quarters – Doubles Global Staffing, Selected by over 30 New Customers Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, today announced at InsureTech Connect Vegas its Q1 and Q2 highlights and continued momentum for 2023 and beyond. During this time, the company increased revenue by more than 100% and added over 30 new customers. “Gradient AI is in rapid-growth mode and well-positioned to continue on this path well into 2023,” said Stan Smith, founder and…