Articles
What’s at stake if insurers rush into AI too early?
Insurers may be in a race to adopt and scale artificial intelligence faster than their competitors do, but Norm Hudson, CEO of Staff Boom, cautions that jumping the gun could lead to disaster. Hudson told InsuranceNewsNet that AI pilots launched without a vision of how to handle different scenarios, prerequisite basics like a standard operating […]
CA judge certifies class action in teachers’ lawsuit over in-plan annuity fees
A federal judge certified a class of California public-school employees in their lawsuit over in-plan annuity fees. Plaintiff Danielle Krimbow claims that the Life Insurance Company of the Southwest improperly charged certain annuity rider fees that were not disclosed on the state’s required retirement investment website. The ruling by U.S. District Judge P. Casey Pitts […]
Fewer members, more profit: UnitedHealth shares surge on Q2 earnings beat
UnitedHealth Group on Thursday became the second major health insurer in as many days to report strong second-quarter profits, driven in part by a strategy of shrinking membership. UnitedHealthcare’s second-quarter enrollment dropped by 525,000 people quarter-over-quarter, bringing its total customer base to 48.5 million. Chief Financial Officer Wayne DeVeydt blamed the shrinking membership on rising […]
Employers weigh retention, costs in developing benefits strategies
Employers are focusing on employee retention and well-being, while keeping an eye on costs, as they develop their workplace benefits strategies. Marsh McLennan Agency revealed the findings of its sixth annual National Benefits Strategy Survey, which examined employers’ priorities for providing benefits to their workers. A continued emphasis on employee retention and engagement stood out […]