AmTrust Wins Celent Model Insurer Award for Digital Customer Experience
NEW YORK--(BUSINESS WIRE)--AmTrust Financial Services, Inc. ('AmTrust' or the 'Company') has been recognized by Celent as a winner of a Model Insurer award for Digital Customer Experience. Celent is a global research and advisory firm for the financial services industry.
The Company won the award for its groundbreaking platform: AmTrust Genius, an AI-powered quoting solution that's redefining how brokers and agents generate insurance quotes. Built into the AmTrust Online broker portal, AmTrust Genius uses Large Language Model (LLM) technology to instantly extract key risk details from different data sources including quotes, proposals, or existing policies. What once required tedious manual keying is now automated – saving time, reducing errors and accelerating deal flow. The platform also suggests cross-selling opportunities tailored to small business' needs. Each quote is benchmarked and enhanced with GenAI-driven, recommendations – giving brokers a clear, personalized rationale for every coverage and limit.
'AmTrust's initiative is a prime example of transformative efficiency in the insurance sector," said Nathan Golia, Senior Analyst at Celent. 'Considering the time savings plus the potential business value of getting these competitive quotes done more quickly and easily, it's nothing short of a slam-dunk to leverage this technology for such a drastic quality-of-life improvement.'
'We sincerely appreciate this award from Celent which recognizes our differentiated approach to providing competitive quotes,' said Ariel Gorelik, AmTrust's Global Chief Operating Officer. 'We lead with a spirit of continuous innovation and are always working on new technologies to improve the user experience. With AmTrust Genius, we are providing our agents and brokers a quick and easy-to-use submission system for Workers' Compensation, Businessowners, and Cyber insurance policies.'
Celent's annual Model Insurer Awards recognize the best practices of technology usage in different areas critical to success in insurance. Nominations are submitted by insurance carriers and undergo a rigorous evaluation process by Celent analysts.
Celent judges submissions on three core criteria: demonstrable business benefits of live initiatives; the degree of innovation relative to the industry; and the technology or implementation excellence. Celent's annual award program recognizes insurance carriers as 'model insurers' for their outstanding technology initiatives. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence.
About AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc., a multinational insurance holding company headquartered in New York, offers specialty property and casualty insurance products, including workers' compensation, business owner's policy (BOP), general liability and extended service and warranty coverage. For more information about AmTrust, visit www.amtrustfinancial.com.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
3 hours ago
- Business Upturn
IOVA FRAUD ALERT: Iovance Biotherapeutics Investors are Reminded of Ongoing Securities Fraud Class Action — Contact BFA Law by July 14 Legal Deadline (NASDAQ:IOVA)
NEW YORK, June 22, 2025 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) and certain of the Company's senior executives for potential violations of the federal securities laws. If you invested in Iovance you are encouraged to obtain additional information by visiting Investors have until July 14, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Iovance securities. The case is pending in the U.S. District Court for the Northern District of California and is captioned Sundaram v. Iovance Biotherapeutics, Inc., et al. , No. 25-cv-04177. Why was Iovance Sued for Securities Fraud? Iovance is a commercial-stage biopharmaceutical company focused on the development of treatments for melanoma and other solid tumor cancers. The Company commercially launched its key melanoma treatment Amtagvi in February 2024. Iovance administers Amtagvi at the Company's authorized treatment centers ('ATCs'). As alleged, Iovance repeatedly touted its ATCs as a driver of demand for Amtagvi. In truth, Iovance's ATCs were experiencing long timelines to begin treating patients with Amtagvi, and ineffective patient identification and patient selection for treatment was causing high patient drop-offs at the ATCs. The Stock Declines as the Truth is Revealed On May 8, 2025, Iovance reported disappointing financial results for 1Q25 and announced it was 'revising full-year 2025 revenue guidance.' The Company blamed 'recent launch dynamics,' including slow 'treatment timelines for new ATCs' and 'the variable pace at which ATCs began treating patients,' which 'differs from center to center.' Iovance also blamed the poor results on high 'patient drop-off' due to inadequate 'patient selection' for treatment. On this news, the price of Iovance stock declined more than 44%, from $3.17 per share on May 8, 2025, to $1.75 per share on May 9, 2025. Click here if you suffered losses: What Can You Do? If you invested in Iovance you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: Or contact:Ross Shikowitz [email protected] 212-789-3619
Business Upturn
3 hours ago
- Business Upturn
FTRE FRAUD ALERT: Fortrea Holdings Inc. Investors are Reminded of Ongoing Securities Fraud Class Action — Contact BFA Law by August 1 Legal Deadline (NASDAQ:FTRE)
NEW YORK, June 22, 2025 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Fortrea Holdings Inc. (NASDAQ: FTRE) and certain of the Company's senior executives for potential violations of the federal securities laws. If you invested in Fortrea you are encouraged to obtain additional information by visiting Investors have until August 1, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Fortrea securities. The case is pending in the U.S. District Court for the Southern District of New York and is captioned Deslande v. Fortrea Holdings Inc., et al. , No. 1:25-cv-04630. Why was Fortrea Sued for Securities Fraud? Fortrea is a global contract research organization that provides biopharmaceutical product and medical device development solutions. In June 2023, Fortrea was spun off into a standalone, publicly traded company by Labcorp Holdings Inc. ('Labcorp'). In connection with the spin-off, Fortrea entered into several transition services agreements (the 'TSAs'), pursuant to which it agreed to pay Labcorp for certain transitional services over a set period. As alleged, Fortrea discussed the significant cost savings and margin improvements that would result from exiting the TSAs. In truth, Fortrea overstated the cost savings and margin improvement it would achieve by exiting the TSAs, as well as the amount of revenue it would generate from pre-spin projects. The Stock Declines as the Truth is Revealed On September 25, 2024, investment bank Jefferies published a report stating that the cost savings Fortrea would achieve from exiting the TSAs were '[n]ot as [m]aterial as [o]ne [m]ight [t]hink.' On this news, the price of Fortrea stock declined $2.73 per share, or over 12%, from a closing price of $22.21 per share on September 24, 2024, to $19.48 per share on September 25, 2024. Then, on March 3, 2025, Fortrea announced disappointing Q4 and full year 2024 financial results, revealing that the company's pre-spin projects 'have less revenue and less profitability than expected for 2025' and that 'post-spin work is not coming on fast enough to offset the pre-spin contract economics.' On this news, the price of Fortrea stock declined $3.47 per share, or over 25%, from a closing price of $13.85 per share on February 28, 2025, to $10.38 per share on March 3, 2025, the next trading day. Click here if you suffered losses: What Can You Do? If you invested in Fortrea you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: Or contact:Ross Shikowitz [email protected] 212-789-3619
CNN
3 hours ago
- CNN
How your AI prompts could harm the environment
AI Sustainability Climate change EconomyFacebookTweetLink Follow Sign up for CNN's Life, But Greener newsletter. Our limited newsletter series guides you on how to minimize your personal role in the climate crisis — and reduce your eco-anxiety. Whether it's answering work emails or drafting wedding vows, generative artificial intelligence tools have become a trusty copilot in many people's lives. But a growing body of research shows that for every problem AI solves, hidden environmental costs are racking up. Each word in an AI prompt is broken down into clusters of numbers called 'token IDs' and sent to massive data centers — some larger than football fields — powered by coal or natural gas plants. There, stacks of large computers generate responses through dozens of rapid calculations. The whole process can take up to 10 times more energy to complete than a regular Google search, according to a frequently cited estimation by the Electric Power Research Institute. So, for each prompt you give AI, what's the damage? To find out, researchers in Germany tested 14 large language model (LLM) AI systems by asking them both free-response and multiple-choice questions. Complex questions produced up to six times more carbon dioxide emissions than questions with concise answers. In addition, 'smarter' LLMs with more reasoning abilities produced up to 50 times more carbon emissions than simpler systems to answer the same question, the study reported. 'This shows us the tradeoff between energy consumption and the accuracy of model performance,' said Maximilian Dauner, a doctoral student at Hochschule München University of Applied Sciences and first author of the Frontiers in Communication study published Wednesday. Typically, these smarter, more energy intensive LLMs have tens of billions more parameters — the biases used for processing token IDs — than smaller, more concise models. 'You can think of it like a neural network in the brain. The more neuron connections, the more thinking you can do to answer a question,' Dauner said. Complex questions require more energy in part because of the lengthy explanations many AI models are trained to provide, Dauner said. If you ask an AI chatbot to solve an algebra question for you, it may take you through the steps it took to find the answer, he said. 'AI expends a lot of energy being polite, especially if the user is polite, saying 'please' and 'thank you,'' Dauner explained. 'But this just makes their responses even longer, expending more energy to generate each word.' For this reason, Dauner suggests users be more straightforward when communicating with AI models. Specify the length of the answer you want and limit it to one or two sentences, or say you don't need an explanation at all. Most important, Dauner's study highlights that not all AI models are created equally, said Sasha Luccioni, the climate lead at AI company Hugging Face, in an email. Users looking to reduce their carbon footprint can be more intentional about which model they chose for which task. 'Task-specific models are often much smaller and more efficient, and just as good at any context-specific task,' Luccioni explained. If you are a software engineer who solves complex coding problems every day, an AI model suited for coding may be necessary. But for the average high school student who wants help with homework, relying on powerful AI tools is like using a nuclear-powered digital calculator. Even within the same AI company, different model offerings can vary in their reasoning power, so research what capabilities best suit your needs, Dauner said. When possible, Luccioni recommends going back to basic sources — online encyclopedias and phone calculators — to accomplish simple tasks. Putting a number on the environmental impact of AI has proved challenging. The study noted that energy consumption can vary based on the user's proximity to local energy grids and the hardware used to run AI partly why the researchers chose to represent carbon emissions within a range, Dauner said. Furthermore, many AI companies don't share information about their energy consumption — or details like server size or optimization techniques that could help researchers estimate energy consumption, said Shaolei Ren, an associate professor of electrical and computer engineering at the University of California, Riverside who studies AI's water consumption. 'You can't really say AI consumes this much energy or water on average — that's just not meaningful. We need to look at each individual model and then (examine what it uses) for each task,' Ren said. One way AI companies could be more transparent is by disclosing the amount of carbon emissions associated with each prompt, Dauner suggested. 'Generally, if people were more informed about the average (environmental) cost of generating a response, people would maybe start thinking, 'Is it really necessary to turn myself into an action figure just because I'm bored?' Or 'do I have to tell ChatGPT jokes because I have nothing to do?'' Dauner said. Additionally, as more companies push to add generative AI tools to their systems, people may not have much choice how or when they use the technology, Luccioni said. 'We don't need generative AI in web search. Nobody asked for AI chatbots in (messaging apps) or on social media,' Luccioni said. 'This race to stuff them into every single existing technology is truly infuriating, since it comes with real consequences to our planet.' With less available information about AI's resource usage, consumers have less choice, Ren said, adding that regulatory pressures for more transparency are unlikely to the United States anytime soon. Instead, the best hope for more energy-efficient AI may lie in the cost efficacy of using less energy. 'Overall, I'm still positive about (the future). There are many software engineers working hard to improve resource efficiency,' Ren said. 'Other industries consume a lot of energy too, but it's not a reason to suggest AI's environmental impact is not a problem. We should definitely pay attention.'
