In this Technology Spotlight edition of Insurance News Analysis, we look at some interesting niche topics that are ripe for a new approach to technology. Firstly, the impending move to Blueprint Two has sparked a bit of debate over Bordereaux’s management. We are discussing whether these legacy processes, which rely heavily on Excel, need to be replaced reinvented or whether what is really needed is available modernized underwriting platforms.
Secondly, Litigation financing by third parties (TPLF), in which investors, often unknown and undisclosed in court, finance a lengthy legal battle in the hopes of receiving a portion of the plaintiff’s payout, has caused some controversy recently. There are many legal and ethical questions surrounding this at the moment, but we’ll focus on the technology that could come into play as network operators try to find a quick and fair solution for their customers.
Finally, just in time for Earth Day, there is news from the insurance tech ecosystem Spicy AI Property and casualty insurers now provide more detailed data on property risks, analyzing factors such as vegetation density, construction materials and weather patterns. We discuss how network operators can use these new data sources and models to help prevent and mitigate risk.
It was a pleasure to have my daughter McKenna stop by the studio for this recording. I’m very proud of her and the content she creates, and especially proud of this post. My workflows in the maternity and insurance industries have merged.
