AI adoption in insurance accelerates, but ROI pressures loom: KMPG

Policyholders gain access to an online risk management library, along with one-on-one risk management consultations. The partnership also provides interest-free premium installment options, including Pay-As-You-Owe plans. Claims support is available through 24/7 online and phone-based reporting tools. Source link

Both have over a decade of industry experience Source link

In 2022, the most recent year for which data is available, US households spent an average of $1,127 per vehicle on auto insurance, representing 1.51% of the median household income of $74,580. This marked a slight increase from the previous year. State-by-state variations were significant, with North Dakota having the lowest expenditure share at 0.93%,…

APCIA represents home, auto, and business insurers nationwide and advocates for competitive private insurance markets. Its members include insurers of all sizes and structures, serving families, communities, and businesses across the US and globally. Source link

Lovatt, who has 40 years of insurance industry experience, was a founding member of the group. He has worked in leadership roles with international, national, regional, and start-up insurance companies. In addition to his new role as president of Great Bay Insurance Company, he currently serves as chief underwriting officer and chief claims officer for…

Transactional risk insurance saw strong uptake across technology, healthcare, and renewable energy, where dealmakers increasingly relied on coverage for tax-related exposures. Emerging markets, particularly in Latin America and Africa, also recorded increased usage, reflecting a growing insurance infrastructure supporting cross-border deals. Source link