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Insurers increasingly tap AI to tackle surging Cat losses

by AIP Online Bureau | Mar 26, 2025 | Climate, Environment, Renewable Energy, Disaster & Management, International News, Non-Life, Reinsurance, Technology

Risk experts are increasingly using AI to crack an especially intractable challenge: modeling hailstorms, thunderstorms and tornadoes, collectively known as severe convective storms, or SCS. Insured losses from SCS events totaled $61 billion in 2024, the...
AI turbocharging organized crime, EU Police agency warns

AI turbocharging organized crime, EU Police agency warns

by AIP Online Bureau | Mar 22, 2025 | Eco/Invest/Demography, International News, Policy, Risk Management, Technology

“Cybercrime is evolving into a digital arms race targeting governments, businesses and individuals. AI-driven attacks are becoming more precise and devastating,” said Europol’s Executive Director Catherine De Bolle The European Union’s law enforcement agency cautioned...
AI has potential to enable collusion; regulators need to adopt forward-looking approach: CCI chief

AI has potential to enable collusion; regulators need to adopt forward-looking approach: CCI chief

by AIP Online Bureau | Mar 16, 2025 | Eco/Invest/Demography, Indian News, Regulation, Risk Management, Technology

Ravneet Kaur, chairman, Competition Commission of India “Today’s competitive landscape is defined by platform economies, network effects, and algorithm-driven decision-making,” the CCI chief said and added that market power today is about data...

SBI to launch centre for financing AI, fintech, e-commerce industries

by AIP Online Bureau | Mar 14, 2025 | Banking & Bancassurance, Eco/Invest/Demography, Indian News, Technology

The project will help diversify the work of the bank’s project finance and structuring unit, which appraises, structures and funds large projects in infrastructure. Lending to so-call new age industries and renewable energy sectors increasingly make up a larger...

WTW launches an AI-driven performance monitoring tool custom-built for insurers

by AIP Online Bureau | Mar 5, 2025 | International News, Non-Life, Reinsurance, Risk Management, Technology

Radar Vision provides unique insights for pricing, portfolio management, underwriting and claims, allowing rapid response to emerging trends. Singapore: WTW, a leading global advisory, broking and solutions company, has announced the launch of Radar Vision, an...
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