Live Insurance News

Tesla car insurance may be on its way for insuring electric vehicles

April 29, 2019April 29, 2019 Marc

Elon Musk’s EVs are facing problems on several different levels, causing the automaker to consider insuring. After another one of the company’s cars spontaneously burst into flames earlier this month, Tesla car insurance is likely to become available. The electric vehicle suddenly started burning while parked in a Shanghai garage. This was not the first time such an event has occurred. As a result, Tesla is likely to offer auto insurance to let its customers affordably cover their vehicles. Elon Musk, the company’s CEO brought up the subject of Tesla…

Machine learning flips understanding of travel industry insurance upside down

April 24, 2019April 23, 2019 H. Cutner

Travel Insurance Industry - Machine Learning

Companies are using new technologies to obtain an entirely new comprehension of this sector. The travel insurance industry, like other coverage sectors, is turning to many new forms of cutting edge technology. This tech is helping the industry to obtain a more refined understanding of itself. The more this technology tells insurance companies about their coverage, the more their understanding changes. Machine learning, such as through artificial intelligence (A.I.) is tossing conventional travel insurance industry wisdom out the window. In its place, comes entirely new concepts and understandings. Smarter tech…

Japanese earthquake insurance has become a popular gift item

April 11, 2019April 11, 2019 Julie Campbell

Japanese Earthquake Insurance - Earthquake damage

An insurance company in Japan has designed a mobile service letting people gift coverage to each other. Japanese earthquake insurance has become the latest type of digital gift people are giving people with their mobile devices. Messaging apps have been a great way for people to give each other virtual gifts for some time now. An insurance company in Japan has spotted the potential from that trend and has turned their coverage into a virtual gift. This new option is a collaboration between a Japanese insurance company and a messaging…

Renewable energy industry insurance claims are growing

April 9, 2019April 6, 2019 Marc

Renewable Energy Industry Insurance Claims - Lightbulb on Grass

Both the severity and the frequency of these claims are rising in the American renewable energy market. Renewable energy industry insurance claims are on the rise, both in terms of severity and frequency, said an insurer specializing in this market, GCube Insurance. The figures have seen a considerable increase over the last half decade, which means that asset owners and insurers alike will need to alter their risk benchmark. The insurance company linked the change in claims frequency and with very specific causes. According to GCube Insurance, the renewable energy…

Workers compensation technology is reducing claims frequency

April 3, 2019April 1, 2019 G. Turner

Workers compensation technology - Computer - Business - Statistics

The use of tech within this insurance space is making positive changes to the market, says a new report. Workers compensation technology is proving exceptionally advantageous to the insurance market in terms of positive and sizeable changes, said an expert’s report. The tech is promoting reduced claims frequency, which is sending rates downward. The fewer the claims insurance companies receive, the less they must often charge for coverage. “We think it’s due to insurance companies doing better on the claims of their policyholders by using technology to drive down the…