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There have been many changes in the modern tech stack, including new automation tools. However, if insurers want to leverage data successfully, their teams need to overcome a few key obstacles.
The InsurTech ecosystem in Asia is relatively smaller as compared to that in Europe and North America. However, the InsurTech industry in Asia has witnessed a significant boom in 2020. According to Venture Scanner, Asia’s largest InsurTech hub is Singapore, followed by Indian cities Mumbai and Gurgaon.
Many advisers insist that innovation leading to faster underwriting is the key to growing the individual protection market because online shopping generally has driven a customer demand for instant gratification and a personalised experience.
Given the infrequency of customer contact with insurance carriers ‘being there’ becomes more important when it matters, but it means different things to different customers.
Whether it’s AI-enabled bot or self-servicing insurance portal for customers, all-digital offerings have been designed to enhance customer experience and reduce time for servicing them and facilitating new business and renewal transactions
Many recent perspectives have declared that COVID-19 is a game-changer for all industries, and insurance is no exception. Our recent research on the Payback on Digital Innovation and our Insurance Consumer Study continue to highlight the drive to cloud, the importance of sustainability and customer demands for digital, personalized experiences.
What are the main Insurtech disruption trends of 2021? In this article four of the UK’s leading insurtechs discuss the decline of traditional insurance and the rise of disruptive innovation in the sector
In Europe and across the world, there’s hope that life will start to return to normal this year. But although people may begin to work, socialise and travel as we used to, the way we purchase insurance – and indeed what we want from our insurers – will never be the same.
Underwriters of the future are going to look a lot more like technology trailblazers, data pioneers, dealmakers, portfolio optimizers, and risk detectives, according to a new report by Deloitte.
Ecosystems provide a win-win opportunity for incumbent insurance carriers, InsurTechs, and service providers by enabling them to operate in a coordinated fashion and devise competitive insurance offerings by opening new avenues.
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