How IoT is Affecting the insurance industry
The insurance industry has a reputation for being a fairly traditional industry with a fundamental model of putting a price on risk and charging a premium for assuming it on behalf of its customers. However, technology is a key disruptor in the insurance industry and poses a formidable threat to the old order in nearly all facets. The Internet of […]
Top Ways No-Code Platforms Create Value for Insurance Businesses
Disruptive technologies, evolving customer preferences and expectations, new entrants in the market, and product innovations are forcing the insurance businesses to constantly reimagine and rebuild their business models and revamp business processes to thrive in the industry and stay ahead of the competition. And this in turn has insurers looking to adopt technologies that can […]
Embracing Insurance 2.0 – A Guide for Digital Transformation in 2021
Technology is by far the biggest enabler of the 21st century. It has allowed organizations to explore new frontiers and innovating in order to stay competitive. Most organizations even today rely on legacy systems and processes. These systems are deeply embedded into the organization that any major attempt to transform digitally will result in a substantial loss of […]
Five Cyber Insurance Trends to Watch for in 2021
The cyber insurance industry is developing rapidly, opening doors for closer relationships between insurers and policyholders. As organizations rapidly grow their data assets, they must be aware of the risks that go along with them. At a time when businesses are frantically scaling their digital assets and building their key capabilities, cybercriminals are eagerly waiting for opportunities to exploit vulnerabilities […]
Digital Ecosystems in the Insurance Industry
It is quite evident that traditional business models are collapsing in every industry, including the insurance industry. As service standards continue to rise, it becomes increasingly difficult for any single insurance agency to deliver the seamless digital integration that customers have come to expect. Partnerships are therefore becoming critical to rapidly developing the flexibility and […]
5 Tech Trends That Are Shaping The Insurance industry in 2021
COVID-19 has been a real game-changer for most industries in the world. The crisis continues to have a significant impact on individuals, society, businesses and the entire economy around the world. The insurance industry hasn’t escaped its effects, but most insurers have reacted quickly to the crisis. As the overall economy recovers and reacts to the pandemic, insurers will face a number […]