AMWINS
“ We are seeing increasing pockets for homogenous risk being underwritten in a fully algorithmic straight through processed manner with digital experiences , and we expect this to increase through the industry .
“ Microservices , Software as a Service ( SaaS ) and Platform as a Service ( PaaS ) are making these trends of bigger data , deeper insights , and digital experiences easier to access , which will likely speed their proliferation .”
Winning formula Ultimately , these achievements can only be realised through superior teamwork and an incredible amount of talent , acknowledges Parsons . He says that while this past 18 months has been challenging , it has also been inspiring in terms of what his team has been able to accomplish .
“ This year , we have been able to rapidly experiment in building an interactive price and coverage discovery platform for our retail agents , offering some differentiating capabilities we don ’ t see with other platforms . I ’ m proud of what we achieved in a short time frame . It ’ s a testament to the impressive development team we have invested in and I ’ m excited to see what they build next !”
On a more personal level , Parsons takes an almost reverent approach to the pace at which technology is enabling things to happen in insurtech . “ The insurance industry is adopting technology at an ever-faster rate . I am excited to see how advances in machine learning , natural language processing , speech recognition , and image recognition will create a paradigm shift in how insurance is placed and serviced .”
He adds , “ With these rapid advances in technology , the limiting factor for industry advancement increasingly becomes our own imagination !”
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