AI

I’ve had the pleasure of collaborating with many folks here at Guidewire who are working to fulfill one of our key missions: enabling a vibrant ecosystem that insurers can harness to accelerate innovation and differentiate. This is a goal we have not just as a company but as a participant in the P&C industry. Recently there’s been a tremendous amount of momentum in this area. The introduction of new integration approaches and developer tools, along with the pace at which new partners are signing on to participate in the Guidewire Marketplace, has resulted in a huge increase in the number of apps available. We’ve also introduced entirely new categories of solutions such as virtual claims inspections and AI-powered fraud detection. ... Read More >
Cyber-attacks are hardly new news, but they are an ever-changing threat. The cyber landscape does not stand still for long, and with each new technological innovation, hackers find new vulnerabilities to exploit for their benefit. Even with existing technology, hackers never cease to find new ways or loopholes for intrusion. The threat is coming from everywhere: past, present, and new technologies.... Read More >
Back in April, the CEOs of UK insurers, brokers, and other providers, received a letter from the Financial Conduct Authority (FCA) telling them to sort out poor customer service or else.... Read More >
Fraud is an ongoing headache for the insurance industry. The Association of British Insurers reported that the industry detected 113,000 dishonest insurance claims in 2017, equating to a value of £1.3bn. The total number of detected insurance frauds, which also accounts for practices such as lying when applying for cover or ‘ghost broking’, was over half a million at 562,000.... Read More >
Insurance companies consume terabytes of information every day in the form of digital data. Valuable data is being provided by more and more sources, which quickly paint a reliable picture of a risk or a submitted claim and make it possible to filter out unwanted risks and fraudulent claims. State-of-the-art technology is required to process this influx of information and convert it into applicable knowledge and insights. ... Read More >
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