AI-powered insurance platform Corgi raised $106 million in funding, reaching a $2.6 billion valuation. The investment highlights growing interest in using artificial intelligence to transform insurance services for consumers.
Technology
AI Insurance Risks Different From Cyber Coverage
Insurance companies are misclassifying AI-related risks as cyber issues, but early litigation shows AI liability stems from ordinary business operations, not security breaches. This creates potential coverage gaps for auto insurers dealing with AI-powered vehicle technology and telematics systems.
AI Settlement Could Impact Auto Insurance Claims
A federal judge is reviewing Anthropic’s proposed $1.5 billion AI copyright settlement, highlighting growing concerns about artificial intelligence use. This development could influence how AI is used in auto insurance claim processing and telematics systems.
Data Center Boom Creates New Insurance Challenge
The rapid expansion of data centers driven by AI demand is creating a massive new commercial insurance market worth potentially $10 billion, fundamentally changing how large-scale risks are managed and potentially affecting the broader insurance landscape that all drivers depend on.
Commercial auto insurance is getting bigger, faster, and more tech-driven
Commercial auto insurance is no longer a niche product that simply follows the trucking cycle. It’s becoming a key battleground for insurers because fleets are growing, delivery traffic is constant,…
More Americans are using AI to shop for car insurance
AI has moved into everyday decision-making faster than most people expected. Car insurance is now part of that shift. A recent survey of 3,002 US drivers found that a meaningful…
Usage-Based Insurance Market: What’s Driving Growth and How UBI Pricing Models Work
Usage-based insurance (UBI) is rapidly becoming an accepted feature of auto insurance policies, particularly in the United States. Insurers need improved risk pricing as claims costs are rising. Drivers want…
EV crash claims are rising, and repair complexity is squeezing insurance
Electric vehicles are showing up in collision shops more often across North America, and the claims are different from what insurers and repair networks were built around a decade ago.…