Insurance experts, we want to know if you think existing business interruption or cyber policies will cover some of the losses due to the worldwide IT outage that is affecting banks, airlines, hospitals and more? What will be some of the factors to consider on whether or not there is coverage? What kind of liability could there be for CrowdStrike or Microsoft?
Digital Insurance
Online Media
Independent reporting on insurance's digital transformation and the insurtech startup community.
About us
Through multimedia reporting and events, Digital Insurance uncovers the stories that matter to insurance business leaders managing digital disruption.
- Website
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http://www.dig-in.com/
External link for Digital Insurance
- Industry
- Online Media
- Company size
- 51-200 employees
- Headquarters
- New York
- Type
- Privately Held
Locations
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Primary
New York, US
Employees at Digital Insurance
Updates
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Insurance leaders are reluctant to part with antiquated but costly technology because of the psychological reaction known as the sunk cost effect or fallacy, writes Naish Berran, INSTANDA senior sales executive director. “Rather than dumping more money into antiquated, ineffective tech, it seems the rational argument would be for business leaders to purchase modern technology that can go farther, faster and do so more efficiently at a reasonable cost to help them,” he writes. #insurance #technology https://bit.ly/4e1CJqN
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Announcements of promotions and new hires from Chubb, Boston Mutual Life, Markel and more; plus insurance news from California, Maryland and Vermont. #peoplemoves #insurance #insurtech #careermoves https://bit.ly/3XpI464
Ameritas' new SVP, chief actuary, underwriting; Maryland gets new insurance commissioner: Career moves
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Sedgwick’s Leah Cooper says technological advances in any area of insurance “do not, and will not, replace the need for humans to make decisions about claims. Judgment calls should always remain in the hands of people who can react thoughtfully and with empathy, above and beyond that which a set of rules and logic can do. https://bit.ly/4gh7kCX #workerscomp #insurtech #GenAI
Exploring tech adoption for workers' compensation claims
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Insurers are finding that Gen AI can be used to manage technology to reduce risks in different markets, according to Jessica Groopman, senior innovation advisor at Intentional Futures, a digital strategy and innovation consultancy. “Parametric insurance, enabling insurance access to developing markets, or for previously uninsurable risks, can use sensor data, real world data, to cover insurance, or at least to preempt claim processing around areas like natural disasters or increasing risk and resilience issues in agriculture, in food security, and in the energy sector,” she said. #AI #GenAI #insurtech
How insurers can leverage generative AI to bolster risk management
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Join this webinar to gain insights into how to eliminate your tech debt, free up IT resources, and enable your teams to move faster. https://bit.ly/4dS8hQ5
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A recent Travelers survey of CFOs found that 66% of the companies are investing in digital capabilities and exploring the opportunities and risks associated with the use of AI. #AI #leadership #riskmanagement
Inside the minds of industry CFOs
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InsurTech Israel reaches out globally to incubate and promote the country’s insurtech startups, and will run an accelerator program in Des Moines in November. “The ecosystem is always growing – growing from new entrepreneurs that look for a solution for barriers or problems that they identified in the insurance space, or by startups that already operated in other industries,” said Kobi Bendelak, founder and CEO. https://bit.ly/4dIvhB2 #insurtech #startups
InsurTech Israel to bring its mission to Des Moines
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Insurance industry Gen AI adoption and spending is taking shape, surveys show. Jason Ralph of McKinsey & Company states four ways the technology can provide value. “We’ve seen a recalibration of expectations,” he said. “When we first started talking about generative AI to our clients, a lot of the focus was on finding use cases where the sky's the limit. We've started to see very quickly that there are clear limits.” https://bit.ly/4fRheuF #insurtech #AI #GenAI
Gen AI moves from potential to reality for insurers
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One in ten of all leaves of absence are now due to mental health, services provider ComPsych reports. Notably, employees who need this time off aren't guaranteed full pay. For Dr. Jennifer Birdsall, Ph.D., ABPP, licensed clinical psychologist and clinical director at ComPsych, it's clear workers have reached their breaking point, and for a good number of reasons. "There are increased chronic stressors we are facing as a nation and across the world: the pandemic, civil unrest and community violence, an unpredictable economy and a polarized political environment," Dr. Birdsall told Employee Benefit News. "We've seen an increase in personal stressors, such as caregiving. There's so much contributing to those feelings of [being] burned out and overwhelmed." https://bit.ly/4dSPUdJ #MentalHealth #MentalHealthAwareness
Mental health leaves of absence are surging in 2024
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