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The Pioneer •

Insurtech is the next big thing after FinTech

By merging insurance with technology, this burgeoning sector promises to revitalise the traditional insurance sector

In the past decade, FinTech's revolutionary impact has been marked by the integration of cutting-edge technologies across various sectors. Thriving on innovation, these FinTech companies have disrupted traditional processes, raising billions in the process. Even with a funding slowdown, the sector managed to secure $1.3 billion in H1 2023.

Building on this momentum, Insurtech em...
DIGITAL TERMINAL •

Telematics Innovation to Revolutionize the Insurance Sector

One such development could be the adoption of telematics, which could potentially fix some of the chronic challenges the industry (specifically the commercial insurance domain) has faced over the past few decades. The underlying technology enables data-driven insights and real-time information collection (from vehicles and other assets), allowing insurers to assess risks more accurately and offer personalized solutions to business organizations.Around 25% of all new commercial vehicle insurance...
ETBFSI.com •

Why traditional insurance companies must embrace digital transformation - ET BFSI

However, with the introduction of digital technologies such as data analytics, automation (of processes), IoT solutions, telematics, and AI, insurance companies have been able to address the inherent issues in traditional processes.Embracing digital transformation is no longer a choice but a necessity to stay competitive and relevant. This article delves into why traditional insurers must adopt digital strategies, highlighting the role of Insurtech innovations and the particular urgency for the...
Photo by Kindel Media on Pexels
CXOToday.com •

Current AI Trends in Insurance and the Factors Shaping its Future

By Aditya Dadia During the past five years, there has been a constant increase in the buzz surrounding the latest technologies, namely Artificial Intelligence (AI) and Machine Learning (ML). Different sectors have adapted the technology rather rapidly due to its sheer impact on core operations and processes. The AI market in the country is anticipated to grow at a CAGR of close to 18% in the next six years. Most sectors, including financial services and insurance, will benefit from emerging AI R...
Photo by Mikhail Nilov on Pexels
CXOToday.com •

Current AI Trends in Insurance and the Factors Shaping its Future

By Aditya Dadia During the past five years, there has been a constant increase in the buzz surrounding the latest technologies, namely Artificial Intelligence (AI) and Machine Learning (ML). Different sectors have adapted the technology rather rapidly due to its sheer impact on core operations and processes. The AI market in the country is anticipated to grow at a CAGR of close to 18% in the next six years. Most sectors, including financial services and insurance, will benefit from emerging AI R...
CIOL •

Five Key Steps to Launching a Successful Insurtech Start-up

The Indian economy has experienced remarkable growth in recent years, surpassing expectations across various sectors. The insurance industry is poised for further expansion with a rising middle class and increasing disposable incomes. However, despite these promising indicators, a significant portion of the Indian population remains either uninsured or underinsured, particularly in terms of health insurance, accounting for a staggering 73%.
This gap presents a compelling opportunity for insuranc...