Following the COVID-19 pandemic, the manifestation of risk on all levels became jarringly evident. This prompted the insurance industry to take a long look in the mirror and face the fact that current insurance practices only provide broad coverage, excluding the depths of modern-day factors. So,
In today’s competitive climate, insurers must remain competitive by providing excellent customer service and reducing the friction and pain points customers experience. Blockchain has long been heralded as the disruptive technology behind the fintech industry, and use cases for Insurtech have e
In today’s business world, companies feel pressure to make money while showing they care about responsible and sustainable practices. Procurement is a significant area of focus , which is how they buy their products and services. There is more focus on conservation-oriented procurement because f
The Internet of Things (IoT) is a revolutionary technology that creates a seamless connection between devices and the Internet. One of the most popular examples of an IoT device is a smartwatch. With IoT technology, devices can connect, in this case, a smartwatch with a smartphone, via the Internet
The insurance industry, so long resistant to change, is finally going through a drastic shift, owing to the digital revolution that has been transforming the financial sector for years now. At the heart of this change is Insurtech , or “insurance technology.” The goal of this innovation is to rev
InsurTech represents the fusion of insurance and technology functions to enable financial inclusion growth as its primary tool. Today's system has complicated rules and specific requirements, making it hard for many people to get coverage because of high premiums. This is especially true for
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