The world of insurance is changing as new ways of doing business are making their mark on the industry.
Investment in the insurance technology space is continuing to grow, hovering at $140 million in 2011 and by 2018, skyrocketing to $4.9 billion, according to one report citing pinpointing three themes dominating insurtech right now: insurance for all, society shaping insurance, and micro-transformations influencing macro risks. Key innovations that are making insurance processes more efficient include process automation, AI, and blockchain, which are increasing both he affordability and accessibility of insurance.
Other experts see certain technologies rising to the top, especially those that harness big data.
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22 Jan 2020