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Why a data-first culture is key to unlocking value from AI in insurance

CIO

Data is the lifeblood of the modern insurance business. Yet, despite the huge role it plays and the massive amount of data that is collected each day, most insurers struggle when it comes to accessing, analyzing, and driving business decisions from that data. There are lots of reasons for this.

Insurance 197
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EXL’s Insurance LLM transforms claims and underwriting

CIO

As insurance companies embrace generative AI (genAI) to address longstanding operational inefficiencies, theyre discovering that general-purpose large language models (LLMs) often fall short in solving their unique challenges. Claims adjudication, for example, is an intensive manual process that bogs down insurers.

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Superscript, a bespoke insurance provider for SMEs, raises $54 million

TechCrunch

Superscript , an insurance broker and tech platform targeting SMEs and “high-growth” tech firms, has raised £45 million ($54 million) in a Series B round of funding. Founded out of London in 2015, Superscript constitutes two core insurance businesses: an online-only “self-serve” platform that’s available to U.K.

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Everything you need to know about parametric insurance

TechCrunch

Insurance is one of the few industries that have remained largely unchanged over the past few decades at a low level: You suffer losses as a direct result of something going south, and you get paid by your insurer. Parametric insurance, on the other hand, ensures that everyone can win. But that old model doesn’t always work.

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Data Science Fails: Building AI You Can Trust

AI has the power to transform countless industries — including the healthcare, banking, insurance, and public service sectors, to name just a few — by introducing new efficiencies and revealing new opportunities for companies to solve problems.

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6 VCs explain why embedded insurance isn’t the only hot opportunity in insurtech

TechCrunch

If you think embedded insurance is the only hot thing in insurtech these days, we’ve got a surprise in store for you: While it’s true that startups that help sell insurance together with other products and services are enjoying tailwinds, there are plenty of other opportunities in the space, several investors told TechCrunch+.

Insurance 269
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Nigeria’s Curacel raises funding to power insurance offerings and expand into North Africa

TechCrunch

of Africans are insured , which is less than half the global average of 6.3%, making it the least insured continent in the world. But soon, the co-founders realized a much bigger problem facing healthcare, particularly as regards insurance. As many as 2.8% Despite the abysmal number, there’s some good news.

Insurance 268