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The California Department of Industrial Relations on Monday issued a progress report on its anti-fraud efforts, including updates on the suspension of 227 medical providers from treating California’s injured workers and the dismissal of 292,000 illegitimate liens with claims valued … from News – Insurance Journal https://ift.tt/2DXfEEi

The IMA Financial Group Inc. has named Anna Ewing chief operations officer. Ewing will oversee operational integration, business process optimization and human capital management to better align business initiatives within the insurance, wealth management and capital investment platforms of the … from News – Insurance Journal https://ift.tt/2Gapl8v

Captricity says it has developed the first AI-powered software that can decipher handwriting with greater accuracy than humans. Developed to extract data from written forms, Captricity READ is 91% accurate at reading a person’s handwriting, which the company says exceeds the rate of any existing text transcription software. Related: AI will have profound impact on underwriting: AGCS report “Surpassing humans with machine reading is a watershed moment for digital automation,” Kuang Chen, founder and CEO of Captricity, said in a news release. “Unlike any previous technology, Captricity READ is the missing link that drives intelligent automation enterprise-wide.” Captricity says READ increases straight-through processing by more than 50% and reduces manual effort by 80%. The AI software contains a deep neural network that has been trained using tens of millions of data points—the equivalent of 35 lifetimes of reading experience. It was curated from 1,000,000,000 text transcription...

The outlook for the Japanese property and casualty (P&C) insurers is stable as it has been since July 2012. The industry will maintain strong domestic profitability and capitalisation, although further progress will be limited following multi-year improvements, says Moody's Investor Service. from Recent Posts on (eDaily) https://ift.tt/2pJ66II

Mr Yi Gang, China's new central bank governor, has said that China will push forward reform and opening up of the financial industry while preventing financial risks through regulation and supervision. from Recent Posts on (eDaily) https://ift.tt/2DWmvhr

A rescue plan for Indonesian life insurer AJB Bumiputera (AJBB) has collapsed after it failed to agree with Evergreen Invesco -- its proposed white knight -- over the size of a capital injection, reported Reuters. from Recent Posts on (eDaily) https://ift.tt/2pJblrO

The IRDAI has extended the deadline for linking Aadhaar, a 12-digit unique identity number issued to all Indian residents, with existing insurance policies from 31 March 2018 until the Supreme Court decides on the matter. from Recent Posts on (eDaily) https://ift.tt/2DWmudn