There is a growing consensus among experts that the insurance industry is on the verge of a fundamental shift.
Over the past two decades, technological advancements and integration of artificial intelligence by the insurance industry have enabled extensive changes in underwriting, policy distribution, and pricing. Experts speculate that these advancements will precipitate a major shift in the insurance industry.
Digital solutions are taking over the insurance industry. The ones with longevity will be those that enable insurers to better assess risks, lower operation costs, enhance claim management and improve customer service, while achieving digitalization.