Category: Technology

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.

AIA health insurance company says Apple Watch wearers are more active

G. Turner
Health insurance company - Woman exercising wearing watch

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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31% spike in insurance claims from VR headsets in 2021

Logan B.
Virtual Reality technology - Insurance Claims

As virtual reality gadgets become increasingly popular, so are smashed TV screens. An increase in the use of VR headsets caused homeowners insurance claims linked to their use to skyrocket by 31 percent in 2021. The most common reason people filed with their insurers was due to cracked television screens. Virtual reality headsets have been growing in popularity in recent years, with a particular spike happening last December when they became hot gifts during the holidays. Christmas day 2021 broke records for downloads of apps relating to the gadgets. 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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Cybersecurity insurance popularity but some companies face denials

H. Cutner
Cyberattacks insurance companies

There are a number of common reasons that are causing insurers to deny coverage to a business. While it has become clear to the majority of companies that cybersecurity insurance can provide vital protection against financial hardships caused by cybercriminals. As a result, demand for coverage has skyrocketed in recent years. Unfortunately, many interested companies have found themselves denied coverage. Despite increasing interest in cybersecurity insurance, the simultaneous rise in threats have forced insurers to be more hesitant to provide coverage. There are several common reasons that a business might…

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Tokio Marine Holdings and ICEYE to develop insurance products using satellites

Marc
Insurance products - Satellite Data

The new collaboration uses satellite data to develop new forms of coverage and service. Radar data provider Tokio Marine Holdings and NatCat solutions expert ICEYE have announced that they will be working together to use satellite data to develop new insurance products and services. The types of coverage and services will focus specifically on climate change and natural disasters. According to ICEYE, Tokio Marine has made a number of strategic investments into the NatCat solutions company as it works to create new insurance products and services geared toward natural catastrophes…

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