The insurance industry is undergoing rapid digital transformation, reshaped by emerging trends such as artificial intelligence (AI), telematics insurance, increased insurtech usage, shift in customer expectations towards ESG aspects, and new working models spurred by the Covid-19 pandemic.
With businesses becoming more digital, cyber insurance is increasingly becoming a necessity. However, it comes with unique challenges like quantifying cyber risk, closing the coverage gap, managing catastrophic losses, and navigating the evolving regulatory landscape. Nevertheless, the sector is expected...
AI, Machine Learning, IoT, and Blockchain are reshaping the insurance industry. They are helping to streamline operations, personalize policies, prevent fraud, and improve customer experiences. Although they present challenges such as data privacy and cyber threats, insurers that embrace these...
In this article, we explore the significant rise of insurtech and how it's reshaping not just insurance practices but the insurance landscape itself. We delve into the key players, contributions, challenges, and the future outlook of this rapidly advancing sector.
InsurTech is shaking up the traditional insurance industry with innovative AI, blockchain, cyber security, drones, and IoT solutions. Insurers need to embrace this technology wave or risk being left behind. This article focuses on understanding the new wave of InsurTech...