Insurers Urged to Offer On-Demand Policies as InsurTech Funding Soars

By The Actuary

A recent report, highlights an emerging trend of start-ups offering on-demand policies that allow customers to buy insurance by the hour, day or week. Variations can be seen across both commercial and personal lines, such as home and gadget insurance that can be adjusted at any time, usually through a provider’s app.

Insurance firms can no longer rely on their brand names to retain customers and should offer instant, flexible and digital quotes, a leading data analytics company has said.

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