Tag: internet of things

Insurance and Technology: The Rise of Insurtech

Guest Author
insurtech insurance technology

The insurance industry, traditionally viewed as conservative and slow to adapt to change, is undergoing a dramatic transformation thanks to technology. This fusion of insurance with technology, known as ‘Insurtech’, is reshaping the landscape of insurance offerings, customer service, and business models. The Evolution of Insurtech Insurtech began as a response to the digital revolution that has swept across other sectors. Today, it represents a broad range of applications: from artificial intelligence and machine learning for underwriting and fraud detection, to blockchain for secure and transparent transactions, and the Internet…

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Lloyd’s warns of Internet of Things device threat to insurance industry cyber risk

Logan B.
Insurance Industry Cyber risk - Computer code - Security Alert

IoT gadgets are raising the threat of attacks and breaches to industrial and manufacturing businesses. Internet of Things (IoT) devices are raising insurance industry cyber risk, according to a new Lloyd’s report published in conjunction with CyberCube cyber analytics specialist, and Guy Carpenter reinsurance broker. As digital threats become increasingly complex, insurers are warned to better understand emerging risk. The Lloyd’s report was titled “The Emerging Cyber Threat to Industrial Control Systems”. It outlined the need for insurers to better understand the evolution of threats and how this sophistication changes…

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Insurance company technology not yet ready for IoT data use, study

Julie Campbell
Insurance company technology -Technology News On Apple Ipad Air

LexisNexis Risk Solutions released a report on some of its latest research showing the insurer struggle with new tech. A new LexisNexis Risk Solutions insurance company technology study shoes that insurers aren’t sure what to do with the IoT. The report revealed that insurance companies know the Internet of Things is important. However, they don’t know how to use it for data collection and other purposes. Even though it seems as though the IoT could be the insurance industry’s best tool, it still baffles. IoT could potentially become highly effective…

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Insurance news is undergoing a massive evolution from technology

H. Cutner
Insurance news technology internet of things

The Internet of Things (IoT) is expected to be a driving force behind massive changes to the industry. Technology has been making insurance news for many years, but it is only of late that the changes have been at an exponential rate, as smart devices have become a typical part of the average household, and as the Internet of Things begins its own expansion. The solutions offered by the IoT can be as simple and practical as they are personalized. This means that insurance news generated by the IoT is…

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