Three property/casualty insurers have dominated the industry’s artificial intelligence patent activity since 2014. State Farm, USAA and Allstate account for 77% of all AI patents by insurers in that time, according to tracking data from Evident, an AI benchmarking and …
More than half of insurance executives say generative and agentic artificial intelligence are the technological investments that will have the most transformative impact on the industry over the next three years, according to PwC. The professional services firm noted in …
Forrester Research predicts written cyber insurance premiums will rise 15% in 2026 as new artificial intelligence threats and data demands emerge. In a new report, analysts at the global market research company anticipate the widespread adoption of AI to reverse …
Insurer litigation expenses declined slightly between 2023 and 2024 and potentially benefitted from state legal reforms to address increasing litigation costs, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) said in a new report. Citing S&P Global Data, …
When the Eaton Fire burned in Los Angeles County in early January, 75% of the structures in the fire perimeter had a low to moderate wildfire hazard, but they carried a high to very high conflagration hazard. Eighty-four percent of …
By implementing AI-driven technologies across the claims life cycle and integrating real-time analysis, P/C insurers could reduce fraudulent claims and save between $80 billion and $160 billion by 2032.
Carrier Management, a sister publication of Insurance Journal, will host a free online event spotlighting wildfire risk assessment, prevention and intelligence tools for risk and insurance professionals. The first Wildfire Risk Intelligence Demo Day will be held on Wednesday, March …
Standard market woes, captive growth and the increased importance of navigating relationships with third-party administrators — insurance experts in the commercial trucking arena have helped their clients traverse a challenging road in recent years. Earlier this month, a panel of …
While the Los Angeles wildfires inch closer toward containment, estimates of insured losses continue to creep higher. CoreLogic said the industry price tag of the Palisades and Eaton fires could land between $35 billion and $45 billion. Moody’s RMS, in …
USI a ‘Well-Oiled Machine’ in Year 30 A thirtieth birthday marks a key milestone in a person’s life. It’s the age when crashing on your friend’s couch is no longer an acceptable sleeping arrangement, and when every bend of the …