Blockchain and its benefits for the Insurance Industry

Blockchain Technology include into the intricacies of its applications in the insurance industry, and the manifold benefits it offers. Blockchain technology has emerged as a transformative force across various industries, promising increased security, transparency, and efficiency in processes. In the insurance sector, blockchain has the potential to revolutionize operations, streamline claims processing, enhance fraud detection,

Big data analytic can improve insurance claims processing

Insurance is a means of protection against financial loss and a form of risk management used to hedge against uncertain contingencies. Big data analytics can greatly improve the claims processing process in the insurance industry. Here are six ways in which it can be used: Fraud Detection: Big data analytics can improve the detection of

The emergence of smart, connective technology in automotive industry had introduced innovations such as Connective and automated vehicles (CAVs) and connected car. From advanced features that help drivers make payment for parking and purchasing through a drive through to entertainment experience and even safety features where vehicles are using sensors to avoid collision, these innovations

Big data analytic can improve insurance claims processing

Background Information The Client is wholly-owned by The Client’s banking and financial group under a conglomerate.  The company controls 14 listed companies involved in the financial services, manufacturing, distribution, property and infrastructure development. The group’s shares are listed on stock exchanges of Malaysia, Singapore, Hong Kong, Manila and Europe. It has a business in General

Background Information The Client is a multinational banking and financial services corporation headquartered in Europe. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. it is one of the biggest banks in the world, and consistently ranks among the top 30 largest banks

The COVID-19 pandemic and its resulting economic crisis are hitting the insurance industry worldwide. The economy for the majority, if not all of the nation remain tough for the next few years. It disrupts and forms new behavior changes in the global scale in the short period of time. As most of the industries and

In the era of rightsizing everywhere

We are in the in era for digital transformation (DT), lot of existing business model ceased to be working anymore like in the past. For those who proactive and adapting to the change (and let go the past), the are undertaking massive digital transformation an embarking in the digitlization journey to hope so continue to

Benefits Of Electronic Healthcare Record

In a world around digital information, an electronic health record is a natural extension of what we expect in our lives, digital transformation from paper based health record to digital record. However, easy access to data is just the most basic benefits of eHR technology. Professionals in clinical information disciplines – especially those earning their

Digital disruption in insurance

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 Self-Driving Automobiles

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

Introduce InsurTech in insurance industry

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 in insurance industry

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

Implementation AI and Automation in Insurance Industry

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

Insurance Technologies Trend

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