The role of AI and machine learning in the customer experience

The insurance industry has paid lip service to AI and machine learning for some time. However, adoption has been underwhelming. As firms come under intense pressure to meet changing customer demands, could this instigate more rapid AI adoption?

Parametrix Insurance teams up with IMA for cloud downtime insurance

Parametrix Insurance, a provider of parametric cloud downtime insurance, has partnered with IMA Financial Group (IMA), a North American insurance brokerage firm specialising in risk management, insurance, wholesale brokerage and wealth management.

Skyline, Howden, and Munich Re in parametric insurance alliance

Parametric InsurTech Skyline Partners has partnered with Howden and global reinsurer Munich Re to develop a parametric insurance solution designed to protect farmers in Jamaica from extreme weather events.

Socotra in Avolanta take-over to modernise insurance

Socotra, a platform for insurers and InsurTech MGAs, has acquired Avolanta, a software startup offering a unified portal for the insurance industry.

Amex backs Trellis’ insurance vision

Digital insurer Trellis has received an investment from Amex Ventures, bringing its total funding to $17m since inception.

Livlet joins forces with Hiscox for home insurance

Livlet, a smart home management platform, has partnered with specialist insurer Hiscox for home insurance policies.

Carrot to support Naver with e-commerce returns insurance

Carrot, a digital insurance platform, has partnered with e-commerce shopping platform Naver for shipment return insurance.

Auto loan refinancer Caribou joins unicorn club

Caribou, which helps consumers save money on auto loans, has joined the unicorn club after the close of an oversubscribed Series C round, which closed on $115m.

Swedish pet insurer Lassie gets paws on €11m

Sweden-based pet insurance platform Lassie has reportedly collected #11m in its Series A, which was led by Felix Capital.

FRISS launches new underwriting risk tool on the Guidewire Marketplace

AI-powered fraud, risk and compliance solution developer FRISS has launched its services on the Guidewire PartnerConnect, following a partnership between the pair.

News Stories

How banks can fight back against fraud scams

The threat of fraud is rising. Covid-19 shook the world and accelerated fraudulent criminal activity around the world.

Extortion demands climb 45% in 2021 on back of ransomware spread

The average ransom demand grew to $247,000 in 2021 according to research from Group-IB.

Investing app Claritus.io launches out of beta

Personal finance app Claritus.io has launched out of its beta as it helps people easily track all of their investments from one location.

Zurich to sell Russian business following calls to cut ties

Global insurer Zurich Insurance Group has agreed to sell its business in Russia to 11 members of the unit’s team following mounting pressure on financial institutions and insurers to cut ties with the region.

How can merchant payments firms navigate the European regulatory landscape?

With a central bank digital currency (CBDC) anticipated to be launched in Europe soon, it is becoming increasingly important that merchants can prepare to accept such a currency.

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