INSURER INNOVATION AND THE FUTURE OF FINT
Insurtech and fintech innovations are reshaping the insurance sector , so what might the future hold for this industry ?
WRITTEN BY : AMELIA MATTHEWSON
Insurtech and fintech innovations are driving transformations in the insurance sector . As we advance further into 2024 , the industry is increasingly embracing technologies like machine learning , AI and embedded insurance to streamline processes and enhance customer experiences .
Predictive modelling is revolutionising risk assessment , enabling more accurate policy pricing by analysing extensive historical data . Furthermore , automation and AI-driven tools are refining claims processes , drastically reducing time and operational costs while enhancing fraud detection and customer personalisation .
Insurtech adoption , innovation , and onboarding new capabilities “ Insurers are actively embracing innovative technologies through strategic partnerships and investments , fundamentally enhancing their operational efficiencies and customer service capabilities ,” says Richard Hartley , CEO of Cytora . “ The adoption of AI has been significant , driven by
124 June 2024