AI underwriting

Mercury Insurance debunks five common homeowners‑insurance myths: policies don’t cover all perils (flood, earthquake, mold, pests), aren’t prohibitively costly when discounts and smart‑home devices are used, renters need separate coverage, and home‑based businesses require specific endorsements. The firm highlights how climate‑risk modeling, AI‑driven underwriting, embedded insurance, and cloud‑based administration are reshaping coverage and pricing. By urging consumers to review limits, exclusions, and optional riders, Mercury aims to close gaps and promote clearer, more affordable protection across its 11‑state market.

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SoFi announced a $1.5 billion common‑stock offering, sending its shares down nearly 6% in after‑hours trading. The proceeds will bolster its capital position, fund digital‑banking expansion, a new crypto‑trading platform, and AI‑driven underwriting tools. In Q3, SoFi posted $961.6 million in revenue (up 38% YoY), net income of $139.4 million, and $3.25 billion in cash. The raise improves leverage ratios and gives flexibility for acquisitions, but dilutes shareholders and trims its price‑to‑sales multiple toward peer levels. Success hinges on converting the extra capital into sustainable growth while managing execution and regulatory risks.