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Earnix Launches Filing Accelerator: Revolutionizing Insurance Rate Filings for Maximum Efficiency
Earnix has launched the Filing Accelerator, a tool designed to revolutionize the regulatory rate filing process for insurers in North America. This no-code interface streamlines the creation of necessary filing documentation, enabling faster and more accurate submissions to insurance departments. By integrating pricing models and filing documentation, it minimizes discrepancies and enhances traceability. Insurers using the Filing Accelerator have reportedly reduced filing error rates to below 0.5%, addressing costly inaccuracies that previously led to significant financial losses. Earnix’s Chief Product Officer highlighted its potential to improve efficiency and allow clients to focus on product innovation.
InsurTech Innovator The Helper Bees Secures $35M Funding to Revolutionize At-Home Care Solutions
The Helper Bees, an InsurTech company focused on aiding older adults in maintaining independence at home, has raised $35 million in Series C funding, led by Centana Growth Partners with participation from existing investors. This investment will enhance their platform that provides essential non-medical services like caregiving, meal delivery, and transportation. CEO Char Hu emphasized the milestone’s importance for the aging-in-place movement, while Centana’s Eric Byunn highlighted the platform’s adaptability in meeting market demands. The funding will enable The Helper Bees to expand its services, empowering seniors to live safely and independently at home.
Nearmap Acquires Itel: Revolutionizing Property Intelligence for Insurers with All-in-One Platform
Nearmap, a leader in aerial imagery, plans to acquire itel, a key player in property intelligence and insurance claims. This acquisition aims to enhance underwriting accuracy and expedite claims processing by merging Nearmap’s high-resolution imagery and AI insights with itel’s claims data expertise. The combined platform will benefit insurers, contractors, adjusters, and homeowners with improved material pricing analysis and repair assessments. Nearmap CEO Andy Watt will lead the new entity, with itel’s Brian Matthews joining the board post-acquisition. The deal, supported by Thoma Bravo, is expected to close in Q2 2025, with financial terms undisclosed.
Declining Trust: Insurance Consumers Express Concerns Over AI Technology
The 2025 AI in Insurance Report by Insurity reveals a growing skepticism among consumers towards AI in the property and casualty insurance sector, with support dropping from 29% to 20%. Additionally, 44% are hesitant to engage with insurers that use AI. Positive experiences with AI also plummeted from 63% to 47%. Insurity’s Sylvester Mathis emphasizes the need for transparency and communication to rebuild trust. Generational attitudes show varying support, with Millennials and Gen X experiencing significant declines. Insurers can regain consumer confidence by educating them on AI’s benefits and sharing success stories to demonstrate its value.
John Neal, CEO of Lloyd’s of London, Makes a Strategic Move to Aon
Lloyd’s of London CEO John Neal will leave the organization in 2025 to become global CEO of reinsurance and global chairman of climate solutions at Aon. Neal, who has led Lloyd’s for over six years, has navigated significant challenges, achieving a 26% profit increase in 2023 and enhancing its global reputation. As he transitions, he will assist in succession planning following chairman Bruce Carnegie-Brown’s resignation. Sheila Cameron, CEO of the Lloyd’s Market Association, expressed optimism about the leadership change, with potential internal candidates like Patrick Tiernan for the CEO role.
