insurance industry

New industry projections show global embedded finance revenue reaching $617 billion by 2031, with B2B embedded finance revenue forecast to surge 390% over the period. The figures point to rapid growth as companies across sectors integrate payments, lending and insurance directly into their products. Analysts highlight business-to-business applications as the fastest-expanding segment of the market.

Healthcare insurance companies are increasingly deploying artificial intelligence across novel applications, according to Forbes reporting. Insurers are exploring AI beyond traditional claims processing, with the article highlighting fresh use cases across the industry. The trend raises both efficiency hopes and questions about how automated systems will affect coverage decisions and patient care.

Tensions are rising in US healthcare over the use of artificial intelligence, with insurance payers and care providers clashing over how AI is deployed. Insurers increasingly use algorithms for claims review and prior authorization, while providers argue the tools delay or deny care and add administrative burdens. Health system leaders are calling for oversight and regulation as both sides race to adopt AI.

Ad-tech firm 33Across has relaunched as WealthStage, an advertising platform aimed at banks, trading apps, lenders, brokers and insurers. The company says its AI engine scores household wealth to help financial brands target customers, citing projections that $124 trillion in wealth will change hands by 2048. Industry watchers are questioning which data feeds the engine and what operations remain under the 33Across name.

Investment firm William Blair has appointed a new managing director focused on the insurance and financial services sectors. The move signals the firm's continued investment in its advisory capabilities in these industries, expanding its coverage as dealmaking and client demand in insurance and financial services remain active.

Washington state’s Department of Labor & Industries has proposed an increase in workers’ compensation insurance rates for employers. The proposal, reported in the Tri-Cities business press, would raise premiums that businesses pay to fund the state-fund workers’ comp system. Employers and business groups typically weigh in during the public comment period, arguing over costs versus benefit adequacy.

Relation Insurance Services has acquired LaPlaca Insurance, an agency based in Philadelphia, as part of a push to expand its presence in the city and surrounding market. The deal adds LaPlaca's book of business and local client relationships to Relation's growing national brokerage network. Terms of the acquisition were not disclosed in early coverage.

Relation Insurance Services has acquired a family-owned insurance agency in Pennsylvania, continuing the brokerage's pattern of growth through acquisitions. The deal adds the agency's book of business and local client relationships to Relation's national platform. Financial terms of the transaction were not disclosed. Industry observers track such deals closely as consolidation continues across the US insurance brokerage sector.