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Experts Analysis On the Future of Insurtech

InsurTech is the combination of technology and insurance developed to improve customer experience, simplify policy management, and fight competition. It is the emergence of new technologies in the insurance industry with a primary focus on reducing the cost for the insurer and insured, enhance efficiency and business profits. <br>Insurance experts say that the insurtech has helped a lot to increase the sales and profits of every insurance company as it allows the buyers to research, compare policies, and purchase online in spite of dealing with few fraudulent local agents. <br>

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Experts Analysis On the Future of Insurtech

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  1. Experts Analysis On The Future Of Insurtech

  2. InsurTech is the combination of technology and insurance developed to improve customer experience, simplify policy management, and fight competition. It is the emergence of new technologies in the insurance industry with a primary focus on reducing the cost for the insurer and insured, enhance efficiency and business profits. • Insurance experts say that the insurtech has helped a lot to increase the sales and profits of every insurance company as it allows the buyers to research, compare policies, and purchase online in spite of dealing with few fraudulent local agents. • Industry expert firm reveals that the significant growth in this market is supported by the implementation of artificial intelligence and machine learning. • The global expert network says that the insurtech was developed to deliver several benefits to the customers comprising of providing customized insurance policies, small business insurance, and claims management.

  3. Expert survey reveals that the top players of insurtech market comprise of Oscar, Shift Technology, Trov, ZhongAn, Clover, Acko General Insurance, BIMA, and others. • Expert network firms are specialized in finding industry experts who say that the application of insurtech has lowered the difficulty level of small businesses to sell insurance policies. Expert consultation reveals that various technologies adopted in insurtech comprise of artificial intelligence, IoT, machine learning, and others. • Expert analysis reveals that the global insurtech market is anticipated to reach the value of USD119.8 Mn by 2023, growing at a CAGR of 16% during the forecasted years 2018-2023. • Insurtech is foreseen to simplify the process of decision making for the customers and the insurers to understand the needs and demands of the target customers.

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