In this Technology Focus edition of Insurance News Analysis, we take a deep dive into several interesting niche topics that are primed for new technological approaches. First, the impending move to Blueprint Two has sparked some debate about Bordereaux’s management. We discuss whether these legacy processes that rely heavily on Excel need to be removed reinvent Or whether what is really needed is Modern underwriting platform.
second, Third Party Litigation Funding (TPLF) investors, who are often unknown and undisclosed in court, will fund a protracted lawsuit in the hope of getting a piece of compensation from claimants, which has caused some controversy recently. There are currently many legal and ethical questions surrounding this issue, but we focus on technologies that may come into play as operators seek to find quick and fair solutions for their customers.
Finally, just in time for Earth Day, news from the insurtech ecosystem: Passionate artificial intelligence Now providing property insurance carriers with more granular property risk data, analyzing factors such as vegetation density, construction materials and weather patterns. We discuss how operators can use these new data sources and models to help prevent and mitigate risk.
I was so happy to have my daughter McKenna in the studio for this recording. I’m so proud of her and the content she creates, and especially proud of this post. My motherhood and work processes in the insurance industry have merged.
