The advent of artificial intelligence has had a significant impact on the insurance industry. Since its emergence, the industry has taken the technology, adapted it to empower insurance practices, and has since embarked on a technology-driven shift. As new and exciting technologies continue to
With the surge in climate-related disasters, property insurance markets in areas with high risk are crumbling. Conventional threat assessments that rely on historical records or zip-code specifics are leaving countless individuals without affordable options. Currently, AI-powered risk models are
The insurance industry is at the edge of the biggest technological change yet. Since the 2023 survey by EIOPA , digital insurance, artificial intelligence, big data, and digital infrastructure have become top priorities for investment. In 2025, these are still coverage providers’ most important
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
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
