Live Insurance News

New active cyber insurance launched by Coalition in Australia

November 9, 2023November 8, 2023 Nordstrom

Allianz Australia is providing the capacity for this new business solution for digital protection. Coalition, a company that defines itself as the first provider of Active Insurance in the world, has announced the launch of its new cyber insurance solutions in Australia. The solutions are composed of a suite of digital risk products that complement its prevention services. The cyber insurance product is more than simply a transfer of risk. It is differentiating itself by working with organizations so that they will better understand their own risk profiles. This will…

State Farm rolls out its new life insurance app for its customers

September 19, 2023September 18, 2023 H. Cutner

Life Insurance Person using mobile phone

The Life Enhanced application was developed to help provide customers with personalized guidance. State Farm recently announced that it has rolled out a new life insurance app called Life Enhanced, which uses technology to provide customers with simple, personalized guidance and motivation. The application provides customers with a range of information, resources and tools. Life insurance customers at State Farm can use the app to set wellness goals, learn about a range of wellbeing topics, and discover ways to maintain a healthy and active lifestyle. It has become increasingly popular…

Artificial Intelligence: Revolutionizing the Landscape of the Legal Sector

August 30, 2023 Logan B.

As we delve deeper into the 21st century, the prominence of Artificial Intelligence (AI) in various sectors continues to grow. One such sector experiencing a paradigm shift due to AI’s influence is the legal industry. From simplifying legal jargon to resolving intricate legal issues, AI is proving to be an invaluable tool for consumers, lawyers and law students. AI for Lawyers: Streamlining Processes and Enhancing Efficiency AI’s impact on lawyers is multifaceted. It’s not just about automating mundane tasks; AI is enhancing creative analysis and identifying persuasive precedents. This automation…

Cigna health insurance sued over use of software to deny claims

July 31, 2023July 28, 2023 Marc

The insurer was sued in California for alleged unlawful claims reviewing software use. Cigna is now facing a lawsuit in California over allegedly unlawfully reviewing health insurance claims using software that does it automatically instead of having human employees complete the work. When a claim is submitted to an insurer, certain steps must be taken to determine if it will be accepted or denied. The healthcare system in the United States involves certain steps when it comes to determining payment through health insurance coverage. First, the patient heads to a…

Auto insurance dissatisfaction drives usage-based coverage growth

July 11, 2023July 11, 2023 H. Cutner

Auto insurance - Usage-based coverage increasing

About one third of covered US consumers said they had experienced a rate increase in the last year. Across the United States, around one in three drivers with coverage experienced a rate increase within the last year, said a new JD Power 2023 US Auto Insurance Study. This has pushed them to look for new ways to save money on their policies that they might not have tried before. Mainly due to the rising expense associated with covering their vehicles, customer satisfaction with this coverage fell by 12 points to…

Insurance companies look to artificial intelligence for a spectrum of tasks

June 30, 2023June 29, 2023 Logan B.

From due diligence to identifying cyber threats and even part of the underwriting process, AI is rising in use. Insurance companies are discovering that artificial intelligence (AI) has the potential to improve the efficiency of the underwriting process, as well as to provide added security and due diligence assistance. While cyber criminals are using AI to try to convincingly defraud insurers, insurers are also using the tech. Generative artificial intelligence is moving quickly, and insurance companies are moving to try to work it into their underwriting process as cyber threats…

How Claims Management Software Empowers Insurance Professionals

June 26, 2023 Live Insurance News

In the fast-paced world of insurance, effective claims management is crucial for insurers to streamline processes, minimize risks, and provide exceptional customer service. As technology continues to advance, insurance professionals are turning to claims management software to gain a competitive edge. This powerful tool empowers insurance professionals to take control of their operations, resulting in improved efficiency, accuracy, and customer satisfaction. A recent study conducted by Allied Market Research revealed that the worldwide market for claims processing software reached a value of $33.9 billion in 2020. The report further predicts…