Insurtech

What is Insurtech?

Insurtech is the use of technology innovations designed to squeeze out savings and efficiency from the current insurance industry model. It involves the use of data analytics, AI, and mobile technology to improve underwriting, claims processing, and customer engagement.

Why It Matters

• It enables more accurate risk assessment through the use of real-time data and IoT devices.

• It speeds up the claims process through automation and mobile image recognition.

• It allows for the creation of personalized insurance products tailored to individual behavior.