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Waymo Driverless Ride-Hailing Service Will Insure Passengers Through Insurance Tech Start-Up

Waymo LLC recently announced that it will use Trov Inc., a five-year old insurance start-up, to insure riders using its driverless ride-hailing service. Waymo, which is the autonomous car unit of Alphabet Inc. (Google’s parent), is hoping to beat others in the auto and ride-hailing industry to introduce its fleet of driverless vehicles; Waymo CEO stated in November 2017 that they were...

Artificial Intelligence: Not Just for Driving

Could artificial intelligence be coming to an insurance company near you? Some insurers are beginning to explore the use of “chatbots” and other forms of AI to assist in the claims and underwriting process. In the auto claims context, a bot could be used to connect to the electronic devices in a connected car and transmit information directly to the insurer. It could also be used to...

NY DFS Proposes New Reg for Auto Insurers

The New York State Department of Financial Services (DFS) has released a proposed regulation aimed at prohibiting the use of education and occupation as underwriting criteria.  The proposal comes after a DFS investigation found some auto insurers in New York use a driver’s education level and/or occupational status as an underwriting factor, landing those drivers in a less-favorable...