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 ready to serve the various users in the real time, it help to cut majority of the overhead for the insurance companies, and at the same time, allow to reduce the premium due to significant saving can be passing over to the final customer.
For those who can not adapt to this new trend and reinvent the existing core insurance process, will be facing challenge from those who can adapt to it quickly and seize this competitive advantage over to those who can’t.
Feel free to contact E-SPIN for various technology solution accelerate your InsureTech adoption.