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Revolutionizing insurance with AI: Discover how PeppercornAI 's digital platform Pipr is personalizing and streamlining insurance experiences for customers and providers. #InsurTech #AIInnovation #PeppercornAI #insurance #insurtech #technology https://lnkd.in/eVzHF247

Insurance needs InsurTech! And InsurTech needs insurance. That's the core takeaway from Angus McDonald's op-ed for Digital Insurance. One of the key points: new generations (firstly Z – 25% of the U.S. population) have new insurance needs. And the industry can't keep up with them if companies don't open up to innovation. Insurance needs InsurTech! And InsurTech needs insurance. Just 10 years ago, insurers didn't trust the “spontaneous approaches” of IT, preferring time-tested methods. They distributed their traditional services through traditional channels: direct sales, brokers and advertising. But times are changing, and changing fast. McDonald believes that risks and disasters have increased in recent years (I think Florida would agree), and customers are no longer satisfied with "good old" services. They need ones more adapted to the new reality. They need new approaches to implementing the old ones. And if you say that Gen Z isn't massively insuring homes and cars yet, they'll eagerly insure online purchases in an age of supply disruptions. And they'll quickly move to others if your digital tool isn't transparent, convenient, and flexible. Capco clearly reflected a cross-section of Y and Z respondents' needs. Tech philosophy preaches direct and effective contact with consumers and constant monitoring of new solutions and trends. Which is especially relevant in the new AI era. And even from this perspective, there's a lot to learn from the tech business. This is without even touching on distribution, data storage and analysis (are your underwriters not burned out yet)? InsurTech is growing at a rapid pace, and it’s clear that traditional insurers are starting to realize they need to adapt. We’re seeing a promising dialogue open up between the old guard and new technology. The question is — are they moving fast enough to meet the demands of today’s consumers? #AI #AIinInsurance #InsurTech #AIInnovations 

🇬🇧 7 Highlights from the Insurtech Insights Conference 2024, London. 20,000+ meetings, 6,000+ insurance experts, 400+ speakers: From keynote addresses to panel discussions, the conference showcased the cutting-edge advancements shaping the future of #insurance. Our co-founder and partner Christiane Jauch highlights 7 main insights from the panel discussions: 1️⃣ The power of AI needs to be harnessed: Zurich Insurance Group's Head of AI, Dr. Christian B. Westermann, delved into the practical applications of AI, urging industry players to embrace innovation to stay ahead and providing valuable insights into leveraging AI for industry advancement. Ericson Chan, Group Chief Information & Digital Officer at Zurich Insurance, highlighted AI as a catalyst for change in the insurance industry. Mark Klein, CDO at ERGO Group AG, stated, "We are at the beginning of a journey we must approach with sensitivity, but which will bring us many advantages." 2️⃣ “#Innovation, everywhere, for everyone”: In an era where technology, connectivity, and new forms of consumer behavior substantially transform the insurance sector, Generali leads the way by igniting a movement that democratizes innovation. In their panel, Emanuele Colonnella and Danilo Raponi from Generali showcased how Generali plans to further prioritize innovation with a €1.1 billion investment dedicated to their digital & technological transformation, enhancing and promoting innovation through an Innovation Fund, Innovation Training, Innovation Tools, CorpUp/Innovation Studios, and External VC Funds. 3️⃣ Technological innovation: Ash Jokhoo, CIO Direct Line Group, and Romaney O'Malley, bolttech’s Group CFO, underscored the importance of technological innovation and clear communication in navigating the evolving insurtech landscape. 4️⃣ Human expertise vs. #AI: The sparring session between ChatGPT and Insurance NED CEO Artur Niemczewski showcased the evolving relationship between technology and human expertise in insurance: While AI continues to advance, human ingenuity remains a crucial element in the industry's success. 5️⃣ Revolutionizing contracts: David Ovenden, AXA Commercial’s Chief Underwriting Officer, explored the emerging concept of modular computable contracting, highlighting its potential to revolutionize insurance operations. By reimagining contracts, Ovenden emphasized the opportunity for transformative change within the industry. 6️⃣ Data and parametric insurance: Sabine VanderLinden, Founder of Alchemy, discussed the role of AI in underwriting emerging risks and the potential of parametric insurance in a data-driven world. Her sessions undermined the importance of leveraging #technology to address evolving industry challenges. 7️⃣ Agility is a must: Drawing lessons from tech giants, the need for insurance companies to remain agile and adaptable in the face of change was underscored as a pillar of success, highlighted Johanna von Geyr from ALAIKA Advisory. #ITI2024

🚀 Novidea Soars with $30M Series C Funding to Fuel InsurTech Growth 🌟 Novidea, a cloud-based insurance software provider, has secured an additional $30 million in Series C funding, bringing the total round to $80 million. This investment highlights the growing demand for digital transformation in the insurance sector. 🔑 Key Takeaways: 🌐 Novidea's "born-in-the-cloud" platform streamlines operations for agents, brokers, and insurers. 📈 The company experienced 90% year-over-year growth in 2022, reflecting the rise of cloud-native solutions. 💼 The new funds will support global expansion, product innovation, and potential acquisitions. 🤝 HarbourVest Partners joins existing investors, impressed by Novidea's impact on insurance broker efficiency. 💻 Digital Transformation in Insurance: 💡 Insurance organizations are prioritizing digital transformation, with spending projected to surge over 25% by 2026. 🔍 Novidea's solutions address key challenges: data management, customer experience, and workforce efficiency. 📊 A recent Novidea survey indicates 75% of insurers plan to switch core technology platforms by 2025. 🚀 Novidea's Growth Trajectory: 🔝 Roi Agababa, CEO of Novidea, emphasizes the "major inflection point" in the insurance sector. 🌎 The company plans to leverage the investment for product refinement, international expansion, and strategic acquisitions. 🔍 Novidea has expanded its global presence and leadership team in recent years. 💼 Overall Impression: 💰 Novidea's funding success reflects the growing need for modern insurance technology solutions. The company's focus on cloud-based automation and operational efficiency positions them well to capitalize on the digital transformation wave sweeping the insurance industry. #InsurTech #DigitalTransformation #CloudTechnology #InsuranceInnovation #SeriesCFunding

🚀 How AI Supercharged Lemonade Insurance: Case Study 👇 While traditional insurers are stuck in the past, Lemonade is blazing a trail with its game-changing AI integration, proving that the future of insurance is faster, smarter, and more customer-centric.  Here’s how they’re disrupting an industry that’s long overdue for a shake-up: ⚡ 𝗖𝗹𝗮𝗶𝗺𝘀 𝗣𝗿𝗼𝗰𝗲𝘀𝘀𝗲𝗱 𝗶𝗻 𝗦𝗲𝗰𝗼𝗻𝗱𝘀, 𝗡𝗼𝘁 𝗗𝗮𝘆𝘀: Meet "AI Jim," the bot that’s putting old-school claims processing to shame. Imagine having your claim reviewed and approved in just three seconds. Lemonade is making that a reality, slashing wait times and cutting operational costs. 🕵️♂️ 𝗔𝗜-𝗣𝗼𝘄𝗲𝗿𝗲𝗱 𝗙𝗿𝗮𝘂𝗱 𝗗𝗲𝘁𝗲𝗰𝘁𝗶𝗼𝗻: But speed isn’t the only trick up Lemonade’s sleeve. AI Jim is also a master at sniffing out fraud. With every claim, the system gets smarter, identifying potential fraud before it becomes a problem. 💡 𝗔 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗘𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲 𝗟𝗶𝗸𝗲 𝗡𝗼 𝗢𝘁𝗵𝗲𝗿: Forget the painful, slow insurance process you’re used to. Lemonade’s AI ensures a seamless, personalized journey from start to finish, driving satisfaction through the roof. 💰 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗣𝗿𝗶𝗰𝗶𝗻𝗴, 𝗨𝗻𝗺𝗮𝘁𝗰𝗵𝗲𝗱 𝗩𝗮𝗹𝘂𝗲: By leveraging AI in underwriting and risk assessment, Lemonade doesn’t just compete—they dominate on price, offering policies that are as affordable as they are innovative. Lemonade isn’t just participating in the insurance industry; they’re redefining it. With AI at the core of their strategy, they’ve set a new standard, showing that technology can be the catalyst for a customer-first revolution. 𝗔𝗿𝗲 𝘆𝗼𝘂 𝗿𝗲𝗮𝗱𝘆 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗳𝘂𝘁𝘂𝗿𝗲 𝗼𝗳 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲? Because Lemonade is already there. At AdaptAI, we’re passionate about innovation and love seeing companies succeed in harnessing technology to disrupt their industries. 𝗗𝗶𝘀𝗰𝗼𝘃𝗲𝗿 𝗺𝗼𝗿𝗲 𝗮𝗯𝗼𝘂𝘁 𝗵𝗼𝘄 𝘄𝗲 𝗰𝗮𝗻 𝗵𝗲𝗹𝗽 𝘆𝗼𝘂 𝗹𝗲𝗮𝗱 𝘆𝗼𝘂𝗿 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆: 𝗵𝘁𝘁𝗽𝘀://𝘆𝗼𝘂𝗵𝗮𝘃𝗲𝘁𝗼𝗮𝗱𝗮𝗽𝘁.𝗰𝗼𝗺/ #AI #Insurance #Innovation #CustomerExperience #FraudPrevention #BusinessTransformation

Pouch Insurance is a Finalist in the INSTANDA INSPIRE Awards for the 'Most Innovative Use of New Technology' category! 🎉 A real gamechanger of an integration with INSTANDA, Pouch Insurance's AI assistant, Goodie, is a first-of-its-kind technological innovation in the insurance sector. This proprietary multilingual AI assistant empowers insurance agents to engage with, and provide quotes to, commercial auto insurance consumers 24/7. 📈 Key achievements include:  - 50% increase in quote volume  - 35% increase in agent efficiency  - 15% reduction in complaints and hang-ups Here are a few comments from the judges:  “As insurance becomes even more global and serves more diverse communities, the multilingual capacity truly offers a significant advantage to customers and agents alike. It will be invaluable for underwriting and educating clients and their agents and shows a very forward-thinking approach to insurance.” Patti Harman, Editor-in-Chief, Digital Insurance “Pouch have fully exploited INSTANDA's architectural and API connectivity capabilities, integrating to their highly innovative AI solution, 'Goodie', which has really broken new ground for the industry in terms of agent experience during the placing process.” Ben Snape, Global COO, INSTANDA “The implementation and use of Pouch Insurance's AI assistant, Goodie, demonstrate a highly innovative and pioneering configuration. The unique functionality of taking customers from initial contact to the generation and delivery of a final insurance quote, along with the seamless information gathering and natural conversation capabilities, sets Goodie apart from other AI chatbots in the industry.” Juan Mazzini, Head of Insurance Practice, Celent Join us in celebrating this milestone and good luck to Commercial Insurance from Pouch for the award finals – winners will be announced next week! #InsuranceInnovation #AI #INSPIREawards #PouchInsurance #CustomerExperience #Insurtech #INSTANDA

Explore the future of insurance tech - from smart AI to better data connections. It's not just about policies, it's about making insurance smarter and simpler for everyone! #insurance #insurtech #insurers #artificialintelligence

🧠 Trends for 2024 in the insurance industry: GenAI and beyond 🧠 🧑💻 GenAI opens up great opportunities for insurance companies to generate value. Likewise, it is also becoming a key driver of their digital transformation. The rapidly evolving technology can be used to automate and speed up insurance processes and significantly improve the customer experience. From a financial perspective, insurers benefit from GenAI’s ability to more accurately assess risks. The adesso SE team has identified six core topics for 2024 where it sees the greatest potential for insurance companies, largely driven by innovation and projects involving GenAI, including: 1️⃣ Data-driven insurance 2️⃣ Customer-centric insurance 3️⃣ Automation and transformation 4️⃣ New work and agile insurance 5️⃣ Digital health and wealth 6️⃣ Green insurance Find the full article at adesso.de 👉 https://lnkd.in/dupVJZaW #GenAI #Insurance #LondonMarkets #InsuranceNews #InsuranceTrends 

AiThority.Com AI in Insurance: Setting New InsurTech Benchmarks and Managing Risks in 2024 #AIinsurance #InsurTech #Propertytechnology #RhinoFintech #Securitydepositinsurance https://lnkd.in/d8fmNZPu

New Post: The Carevoice raises $10M Series B, bucking the funding slowdown in health tech - https://lnkd.in/gu7f3fDn - The field of insurance technology has had a rough time. About 7 years ago, early insurtech companies promised to disrupt the insurance industry with new tech, but today, most of those companies have either been acquired or are floundering in the public markets. Fortunately, insurtech has found a new wave to ride in the past © 2024 TechCrunch. All rights reserved. For personal use only. - #news #business #world -------------------------------------------------- Download: Stupid Simple CMS - https://lnkd.in/g4y9XFgR -------------------------------------------------- or download at SourceForge - https://lnkd.in/gNqB7dnp