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InsurTech weekly - Is 'no insurance' poised to become the future of insurance?

Climate change threatens home insurance - How AI is transforming banking - A new use-case for self-driving cars

Climate change threatens home insurance

Scrambling to find a new insurer, he found his existing premium of about $1,200 a year impossible to replicate. Instead, he received quotes ranging from $2,000 to $3,200. (...) Local insurance brokers say they have seen a big jump in calls from homeowners in search of cover as companies pull out of certain neighbourhoods. “A lot of people are hurting right now, rates are going up and up,” says Kevin Torcia, a broker at Goosehead Insurance in the area. Last year was the worst he had seen “in the last 15 years, easily”, he adds. Torcia helped about 70 jilted customers shop around for home insurance, up from a dozen the previous year.

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How AI is transforming banking

Having developed at an astonishing pace in recent years, artificial intelligence (AI) is now poised to transform every sector of the economy. In the financial services industry alone, the majority of bank executives – as evidenced by a recent in-depth Roland Berger survey – are convinced that the future success or failure of banks will depend on their AI capabilities. We (Roland Berger) expect to see a transformation towards 'AI-first banks' across the globe – a transformation that will place them on a new efficiency curve.

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A new use-case for self-driving cars

For Uber Eats, Phoenix is the seventh site with autonomous deliveries, but the first location where the delivery app will use Waymo’s vehicles. Uber Eats has already teamed up with robotics companies Cartken, Motional, Nuro and Serve Robotics to pilot autonomous deliveries in other markets.

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