Six Tech Trends to Watch in the Insurance Industry

By CXO Today

The insurance industry is in the middle of a significant evolution, largely driven by the changing expectations of modern customers, new competitors, and the unique demands of a marketplace affected by COVID-19. Insurance providers are striving to stay relevant by smoothly enabling remote operations and keeping up with a higher volume of transactions, without compromising on customer experience. The way forward for the insurance sector is centered round the timely adoption of new-age technologies. It is imperative that insurance providers effectively digitize their enterprises with the right combination of technology and strategy in order to stay ahead of the curve. Trends include:

1) Predictive analytics

2) Artificial Intelligence and Machine Learning

3) Robotic process automation (RPA)

4) Social media

5) Virtual Collaboration Tools

6) Telematics devices

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