Reinsurance News
AI
News and analysis on the use of artificial intelligence (AI) within the insurance and reinsurance industry.
Increasingly, the insurance and reinsurance market is adopting artificial intelligence (AI) to enhance its operations and make them more efficient, as well as in developing innovative new products and operating models for underwriting insurance and reinsurance risks.
Rising AI adoption exposes businesses to new risks: Gallagher
18th March 2025
Adoption of artificial intelligence (AI) is at an all-time high, with nearly two-thirds of businesses testing AI in the past year and half already implementing it, however, Gallagher warns that growing usage also brings new risks, including a greater likelihood of AI-related claims if not properly governed. Gallagher’s research shows that ... Read the full article
Lemonade adopts ZestyAI’s platform to enhance underwriting
17th March 2025
ZestyAI, a provider of AI-driven climate and property risk analytics, has confirmed that Lemonade, the digital insurer powered by AI, has adopted its platform to further optimise underwriting for key catastrophe perils in the US. The pair stated that their partnership reflects a shared vision for addressing increasing climate risks and ... Read the full article
Critical cloud service outages increase in 2024: Parametrix
17th March 2025
According to Parametrix, a provider of digital business interruption risk solutions, critical cloud service disruptions among the top three public cloud providers rose by 18% in 2024, with the duration of these outages increasing by 18.7% compared to the previous year. Parametrix’s Cloud Outage Risk Report 2024 highlights the growing risks ... Read the full article
MGT Insurance strengthens leadership team
14th March 2025
MGT Insurance, the first AI-driven neo-insurer dedicated to transforming commercial property and casualty (P&C) insurance for brokers and small business owners, has announced two key leadership appointments: Joe Barneson as Head of Engineering and Eric Bloedorn as Head of Data & Technical Product. Barneson, an accomplished engineering and product executive with ... Read the full article
DXC and ServiceNow partner to transform insurance workflows with AI
5th March 2025
DXC Technology, a Fortune 500 global technology services provider, and ServiceNow, an AI platform for business transformation, have partnered to drive innovation in the insurance industry with artificial intelligence. DXC is combining its solutions with ServiceNow's AI capabilities and workflows to introduce DXC Assure BPM (Business Process Management) powered by ServiceNow. The ... Read the full article
WTW unveils new AI-driven monitoring tool for insurers
5th March 2025
International broker WTW has launched Radar Vision, an AI-driven performance monitoring tool custom-built for insurers. The global insurance industry is facing a period of rapid change and uncertainty, driven by significant inflation, demographic shifts, and a volatile market. To succeed in this environment, WTW highlights, insurers must be able to quickly understand ... Read the full article
FutureProof Technologies launches FutureProof Insurance Agency
3rd March 2025
FutureProof Technologies, a venture-backed insurtech startup, has launched the FutureProof Insurance Agency, a wholly-owned subsidiary designed to enhance insurance distribution through AI-driven risk selection. The agency will sell policies on behalf of dozens of carrier partners across the United States, leveraging FutureProof's risk selection technology. This expansion builds on the success of ... Read the full article
Rankiteo aims to revolutionise cyber insurance with data-driven underwriting
21st February 2025
Rankiteo, a cybersecurity risk management company, aims to revolutionise the cyber insurance industry by introducing a more scientific, data-driven approach to underwriting, leveraging advanced actuarial science, AI-driven risk modelling, and statistical methodologies. Rankiteo is a cybersecurity startup founded by former SwissRe/AXA cybersecurity expert Jeremy Canale in collaboration with Maochao Xu, Director ... Read the full article
NEXT Insurance to enhance underwriting processes with ZestyAI partnership
18th February 2025
ZestyAI, a provider of AI-driven climate and property risk analytics, has partnered with commercial insurer NEXT Insurance to bring AI- powered risk insights to small business insurance. Under this agreement, NEXT will adopt ZestyAI’s Z-PROPERTY and Z-FIRE models to enhance its underwriting processes with precise, property-level risk insights. Attila Toth, CEO of ... Read the full article
AI-driven Earnix Copilot launches to boost productivity and business performance
18th February 2025
Earnix, a global provider of AI-based SaaS pricing and rating solutions for financial services, has announced the launch of the Earnix Copilot, “Alix”, created to enhance productivity and performance with artificial intelligence. “This generative AI-driven agent is designed to supercharge decision-making within the Earnix platform, driving exceptional business outcomes and unmatched ... Read the full article
2025, the year GenAI delivers real value to the re/insurance industry: Capgemini’s Denninger
17th February 2025
2025 will be the year when GenAI starts delivering real value in the re/insurance industry, particularly in customer service, but also in other areas, according to Adam Denninger, Global Insurance Industry Leader at Capgemini. Denninger recently spoke with Reinsurance News in an interview, discussing a variety of topics, particularly AI and ... Read the full article
McGill and Partners launches AI agent
17th February 2025
Specialty insurance and reinsurance broker McGill and Partners has launched its own AI agent, becoming the first broker in the London market to leverage Agentic AI technology through Salesforce’s AI system, Agentforce. The AI agent is integrated into Underscore, the firm’s proprietary digital platform, which connects distribution partners with London market ... Read the full article
Re/insurance CEOs seeing efficiency gains from GenAI: PwC
12th February 2025
As per PwC's 2025 Global CEO Survey, 54% of insurance CEOs are reportedly seeing efficiency gains in their employees’ time from generative artificial intelligence (GenAI), while 27% of Insurance CEOs and 36% of banking and capital markets CEOs said they have witnessed revenue increases from GenAI. Despite this, the firm's latest ... Read the full article
ICEYE and SATIM partner to develop AI-powered SAR imagery analysis products
12th February 2025
ICEYE, a provider of satellite-based disaster management solutions, has partnered with AI technology company, SATIM, to develop new AI-powered Synthetic-aperture radar (SAR) imagery analysis products. By combining ICEYE's high-quality SAR satellite imagery with SATIM's advanced AI capabilities, the partnership aims to create products that enable rapid and reliable detection and classification ... Read the full article
Room for wider and deeper AI adoption among re/insurers: Craig Campestre, Earnix
11th February 2025
In an interview with Reinsurance News, Craig Campestre, Chief Revenue Officer at Earnix, highlighted that the insurance and reinsurance industry can do more to adopt artificial intelligence (AI), emphasising the need for deeper integration, improved governance, and the rise of roles like Chief AI Officer. While progress has been made, Campestre ... Read the full article
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