Trends to Follow for InsurTech Companies

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Trends of InsurTech
Trends of InsurTech
Source fintechmagazine.com
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• Introduction
• Trends Shaping Insurtech
• Digitalize to Survive
• Data Analytics
• AI-ML
• Blockchain
• Conclusion

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Table of Contents
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Introduction
The world is facing a crisis of pandemic.
Insurtech companies through their innovative
offerings are enabling insurers to swiftly blaze
the technological upheaval. Insurance software is
a reliable solution for business continuity
plans. Lets look through some trends
evangelizing the increasing importance of
InsurTech in the insurance landscape
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Digitalize to Survive
This is the age of digital customers who prefer
online solutions to compare different insurance
products and make buying decisions
The current pandemic scenario suggests that
staying at home is a necessity and insurance
software enables better collaboration between
insurers and intermediaries even remotely
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Data Analytics
Insurance Software improves decision making
through granularly insights generated by in depth
data analysis
The global crisis of COVID-19 will lead to huge
losses but Insurance software pivots the accuracy
and removes the chances of human error
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AI-ML

• AI-ML new-gen technology targets to build a
  personalized experience for each customer, be it
  premiums, policies, claims settlement,
  administrative dashboards, reinsurance or target
  marketing

• The current pandemic scenario suggests that
  staying at home is a necessity and insurance
  software enables better collaboration between
  insurers and intermediaries even remotely

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Blockchain
Blockchain increases the efficiency of the
process by avoiding to and fro for verification
of claims, fraud protection, and reinsurance
policy decisions
Blockchain technology enables insurers to
maintain data privacy and confidentiality while
working remotely in COVID-19 situation
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Conclusion
Insurance software is like sowing the seed of a
long-term investment of insurtech to bear sweet
fruits of efficiency and thrive in this era of
disruption caused by a crisis of COVID-19
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