The Insurance Revolution

Insurance Revolution

When you consider the cutting edge of technology – the Internet of Things, drones, or telematics, for example – all these things have been quietly pioneered by insurers already to provide personalised products and services, years ahead of other sectors. Quite surprisingly, you might say that insurance is very much at the forefront of the FinTech wave when it comes to responding to external factors.

But what about the changes happening at the core of the industry itself? A moniker that’s becoming much used is “InsurTech”.  Cloud computing, smartphone hardware, and apps are being exploited to transform old processes and enable new ways for customers to obtain and remain insured, and for insurers to engage digitally with customers.

What’s particularly exciting is how InsurTech is bringing forward not only new software but also new services and business models for the industry. To learn more about some of the InsurTech start-ups and how they are challenging and collaborating with large insurers, please read my Finextra article.