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- Insurance News Digest 4-24-2025
Insurance News Digest 4-24-2025
Insurtech industry is shifting from disruptor to collaborator, with startups partnering on AI underwriting and catastrophe modeling to modernize insurance operations. At the same time, incidents like Lemonade’s data breach reveal cybersecurity risks that come with digital transformation.
We deliver the latest insights and developments shaping insurance, focused on insights and opportunities for those who serve the insurance industry. Stay informed on how emerging trends like current events, regulatory changes, AI, and innovative products can help you better serve your clients and partners and drive business growth.
Top 10 Articles Of The Week
Independent agencies must adapt to Gen Z's expectations, emphasizing culture, flexibility, and clear advancement paths to attract and retain young talent. Proactive planning is essential to avoid future staffing shortages.
A class-action lawsuit alleges Toyota and a telematics partner unlawfully collected and shared drivers' data with Progressive without consent. The case underscores the importance of data privacy in telematics programs.
In Q1 2025, global natural catastrophes resulted in $53 billion in insured losses, with California wildfires accounting for 71% of the total. Economic losses reached $83 billion, highlighting a significant protection gap.
New York's proposed legislation mandates annual flood insurance notices for Lake Ontario communities, aiming to clarify coverage distinctions and promote preparedness. The initiative seeks to enhance awareness of flood-related insurance needs.
A South Florida insurance broker admitted to a $134 million scheme involving fraudulent ACA enrollments, targeting vulnerable populations. The case highlights ongoing challenges in preventing health insurance fraud.
Insurance Business has launched the IB Data Hub, a centralized platform providing data-driven insights and rankings for brokers and carriers. It aims to empower industry professionals with transparent, customizable insurance intelligence.
While insurers applaud AI’s operational potential, many consumers remain skeptical about trust and transparency. GlobalData reports highlight a gap between technological enthusiasm and end-user confidence.
As part of Florida’s depopulation program, Mangrove Insurance has absorbed 30,000 Citizens policies. This move aims to ease the public insurer's burden while signaling ongoing private-sector appetite.
Poison control centers report a sharp rise in calls related to psilocybin use, despite its growing reputation in wellness circles. Experts urge caution as the market for psychedelic therapies expands.
A practical guide for professionals supporting maritime businesses, this article outlines key insurance considerations for boat and marina risks, including liability, storm exposure, and specialty coverages.
Focus Of The Week: Insurtech industry is shifting from disruptor to collaborator, while incidents like data breaches reveal cybersecurity risks that come with digital transformation.
The NOAA highlights that 2024 has been one of the busiest years for severe weather, with significant implications for insurers managing catastrophe risks.
FICO and dacadoo have joined forces to enhance underwriting with real-time AI-based decisioning. The collaboration aims to streamline risk assessments and enable more dynamic, personalized insurance products.
Lemonade disclosed a data breach affecting 190,000 driver’s license numbers, underscoring cybersecurity challenges in digital-first insurance. The company is notifying customers and coordinating with regulators.
Catastrophe risk startup Resiquant raised $4 million and partnered with Golden Bear Insurance. The seed funding will support its AI-based platform aimed at transforming how insurers model and manage catastrophe exposures.
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