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1 week ago | 
dig-in.com | Patricia L. Harman
The hacking group known as Scattered Spider has turned its attention to the insurance industry, particularly insurers. The hackers are believed to be based in the U.S. and U.K., comprising primarily English-speaking teenagers and young adults. Their teams generally target a specific industry at a time and have previously hacked British-based retailers Marks & Spencer, Co-Op and Harrods.
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2 weeks ago | 
dig-in.com | Patricia L. Harman
Takeaways:Social inflation continues to riseThe role of the plaintiffs barAI's role in identifying social inflation trends Insurers have been watching the steady increase in social inflation for the last decade as factors such as the evolving legal landscape, societal influences, extensive attorney advertising and third-party litigation funding feed its growth.
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2 weeks ago | 
dig-in.com | Patricia L. Harman
Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Patti Harman (00:07):Hello and welcome to the DigIn Podcast. I'm Patti Harman, editor in chief of Digital Insurance, and thank you for joining us today.
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2 weeks ago | 
dig-in.com | Patricia L. Harman
Takeaways:Changes at NOAA and NWS will affect storm forecastsState could shoulder more disaster costsAI models still aren't reliable forecastersThe National Oceanic and Atmospheric Administration (NOAA) is forecasting 13-19 named storms during the season, with 6-10 expected to become hurricanes and 3-5 evolving into major hurricanes as Category 3, 4 or 5 storms.
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3 weeks ago | 
dig-in.com | Patricia L. Harman
Independent personal lines insurer, Goosehead Insurance, Inc., has launched a new initiative focused on recruiting military veterans and helping them become financially independent franchise owners. The Veteran Initiative Program (VIP) leverages veterans' unique skillsets and equips them for business success through training, technology and mentoring.
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1 month ago | 
dig-in.com | Patricia L. Harman
Takeaways:Using IoT proactivelyReducing policyholder risksWith so many types of technology available today, Plymouth Rock Assurance is using it to help educate and protect its homeowners in new ways. In the latest DigIn podcast, Owen Williams, associate product manager at Plymouth Rock, explains how the company is using Internet of Things (IoT) technology to prevent or mitigate some common household risks.
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1 month ago | 
dig-in.com | Patricia L. Harman
Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Patti Harman (00:06):Hello and welcome to the DigIn Podcast. I'm your host Patti Harman, editor-in-chief of Digital Insurance.
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1 month ago | 
dig-in.com | Patricia L. Harman
Lloyd's has announced that Patrick Tiernan has been appointed CEO, subject to approval from the Prudential Regulation Authority and the Financial Conduct Authority. He replaces John Neal, whose term as Lloyd's CEO ends on May 31st. Tiernan joined the firm in 2021 as the company's first chief of markets and served as part of Lloyd's senior leadership.
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2 months ago | 
dig-in.com | Patricia L. Harman
The constant evolution and adoption of technology across the insurance industry is having a profound impact in how data is utilized and the skillsets required to keep carriers on par with other technology-based firms. While insurance has traditionally not been viewed as being on the cutting edge of technology, today's insurers are competing against companies like Amazon, Apple, Google and Meta for the talent needed to focus on every aspect of the industry.
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2 months ago | 
dig-in.com | Patricia L. Harman
One of AI's greatest benefits is the ability to search through large amounts of data and provide insights for decision-making across various lines of insurance ranging from P&C to workers' compensation, specialty lines, life and health. A new report from Munich Re shares some particularly interesting insights on how AI is being used in the area of life insurance, aiding in diagnosis, prevention and therapies for treatment, particularly for cancer patients.
