Digital disruption in insurance happen in speed of light. Few years back, we never hear the term InsureTech, but now in digital transformation (DT) era, it suddenly being widely spread popular trend just like FinTech for the banking industry. For the very core of the insurance, property-and-casualty (P&C) claims process once you can fully digitalize and
Introduce insurance for Smart Cars technology is nothing new. Introduction of Smart Vehicles and driverless is no longer and idea in future but it already release in this year 2019 by General Motors because they plan to release its own driverless vehical, which has no steering wheel or pedals, for commercial ride services, along with other
The insurance industry is in search of growth and efficiencies with technology often in the middle. Technology can improve our productivity, disrupt our value chain, create new risk management opportunities, and open up new insurance markets through innovations. InsurTech is a global phenomenon and one of the fastest growing entrepreneurial industry segments. Innovative technologies disrupting
Digital transformation is important for many industries, however, for the insurance sector it’s a business priority. It’s not about adopting an innovative or solely external process; digital transformation in insurance requires an innovative business model that is focused on customer needs, more connected products and services, emerging technologies and real-time data. Insurance leaders must approach
Right now Blockchain is considered the most disruptive technology invented in the last few decades that can be compared to the invention of the wheel, fire, and the internet. It has a tremendous potential to radically change on how business are run around the world today. While Blockchain finds its applications in almost all industries, for
Implementation AI and Automation in Insurance Industry gonna easier to manage with thousands of claims, customer queries and large amounts of diverse data. AI has now been frequently cited as a disruptive force in the insurance sector. From smart chat-bots that offer quick customer service round the clock to the array of machine learning technologies
The Internet of Things The biggest trend affecting the insurance industry in the coming years, iOT, the term refers to all connected devices in the world. The most obvious example of an internet expert is your home and mobile needs. But increasingly, the car itself – or the new sensor / technology in the car
Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Here are six ways where big data analytics can improve insurance claims processing: 1. Fraud One out of 10 insurance claims is fraudulent. Most fraud solutions on