The Insurance industry is some of the oldest businesses in the world, and when you visit a corporate headquarter, it’s quite visible. It has seen how technology has been sweeping across each country, changing the way businesses create value – but in a lot of cases insurers have merely changed themselves.. Technological transformation has long been living in the main headings of insurance articles but now it’s time to act on it.
It would be beneficial for the industry and customers to take advantage of artificial intelligence, big data, predictive analytics, and other key innovations that define the future of insurance. They are bringing in unfamiliar words into the vocabulary of incumbents, altering the world on which they have long been competing.