Michael Shashoua

New Jersey

Memoir out now: https://t.co/1tbfLVltcp Day job is w/ @_diginsurance Formerly #fintech marcom & @referencedata. superfan of @genesis_band, @FordhamGBA alum

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Articles

P&C insurers score high in ranking of AI progress

1 week ago | dig-in.com | Michael Shashoua

Property and casualty insurers are doing better at implementing AI than life insurers, composite insurers and reinsurers, according to the Evident Insurance AI Index, a new ranking by Evident, a data as a service (DaaS) business and benchmarking platform. While composite insurers AXA and Allianz topped the ranking of 30 North American and European insurers, P&C insurers USAA and Intact Financial ranked third and fourth respectively. About half of the top 30 insurers were P&C carriers.
Underinsurance, misunderstandings and negligence fuel California wildfire lawsuits

1 week ago | dig-in.com | Michael Shashoua

California homeowners policyholders have not been made whole after the Los Angeles wildfires in January. Those with State Farm policies have reported problems getting expected and necessary claims payments, leading to a probe by the state's regulator. The root of this discontent comes from how insurance is sold, explains Dan Veroff, policyholder counsel at Merlin Law Group. The firm represents homeowners policyholders in claims disputes with insurers.
California wildfire risks push home owners and buyers to safer areas

1 week ago | bondbuyer.com | Michael Shashoua

Wildfire risk forcing widespread relocation from the highest risk areas, especially after the Los Angeles fires in January, is no longer theoretical. According to U.S. Postal Service change-of-address data, counties with high wildfire risk (as rated by the U.S. Forest Service) have net population losses. Areas near those counties with lower risk are seeing population gains.
California wildfire risks push home owners and buyers to safer areas

1 week ago | nationalmortgagenews.com | Michael Shashoua

Wildfire risk forcing widespread relocation from the highest risk areas, especially after the Los Angeles fires in January, is no longer theoretical. According to U.S. Postal Service change-of-address data, counties with high wildfire risk (as rated by the U.S. Forest Service) have net population losses. Areas near those counties with lower risk are seeing population gains.
California wildfire risks push home owners and buyers to safer areas

1 week ago | dig-in.com | Michael Shashoua

Wildfire risk forcing widespread relocation from the highest risk areas, especially after the Los Angeles fires in January, is no longer theoretical. According to U.S. Postal Service change-of-address data, counties with high wildfire risk (as rated by the U.S. Forest Service) have net population losses. Areas near those counties with lower risk are seeing population gains.
Agentic AI must authenticate identities or risk fraud, expert says

1 week ago | dig-in.com | Michael Shashoua

Insurers' adoption of agentic AI is bringing more security concerns, complicating use of the technology to service claims, as Ofer Friedman, chief business development officer at AU10TIX, an identity verification service, explained. Aside from clouding customer focus, insurers adoption of agentic AI is founded on verifying identity, which, in its current state, is still vulnerable to fraud – an issue that must be addressed, Friedman stated.
California wildfire risks push home owners and buyers to safer areas

1 week ago | today.westlaw.com | Michael Shashoua

Wildfire risk forcing widespread relocation from the highest risk areas, especially after the Los Angeles fires in January, is no longer theoretical. According to U.S. Postal Service change-of-address data, counties with high wildfire risk (as rated...
Make insurance more than just paying claims, Nationwide executive says

1 week ago | dig-in.com | Michael Shashoua

At Insurtech Insights, Sarah Jacobs, senior vice president, product and underwriting, Nationwide, raised the prospect of creating value in insurance that comes from more than just paying claims. After her remarks, Digital Insurance spoke with Jacobs about how insurers can achieve this goal. This article is from a longer interview and edited for clarity. It gets back to the consumer dynamic. They expect real benefit out of something that they're putting in. That's their mindset.
Successful AI depends on insight, not efficiency, AXA CEO says

2 weeks ago | dig-in.com | Michael Shashoua

At Insurtech Insights, Lucy Pilko, CEO of AXA XL Americas, spoke about insurance industry efforts to apply AI to reduce risk. After her remarks, Digital Insurance spoke with Pilko about the industry's goals with AI, its progress and its impact on insurance operations. This article is from a longer interview and edited for clarity. We have been using AI. There's AI and then there's generative AI. We've been using AI in pricing models.
Insurtech Insights New York reporter's notebook

2 weeks ago | dig-in.com | Michael Shashoua

In the coming weeks, Digital Insurance will have more reports on the Insurtech Insights conference held in New York on June 4-5. These are some brief highlights and impressions from the event. In an InsurTech Summit program hosted by McDermott, Will & Emery on June 3, preceding the conference, executives and climate risk advisors from insurers, insurtechs and academia, called for community level engagement for resilience against climate disasters.