The integration of innovative technologies into the insurance sector is inevitable, given the global digitization of all business industries. However, contemporary insurance companies are not rushing to abandon manual processes.
There are several reasons for that.
Excessive industry conservatism leads to a sharp shortage of technical specialists with expertise in the insurance field. For the same reason, insurers hesitate to invest in their digital infrastructure. And this is just the tip of the iceberg.
Experts are optimistic about InsurTech despite the challenges. This ebook covers the industry’s challenges and ways to overcome them, the most popular technologies applied in insurance, and the advantages of automating insurers’ workflow processes.
This ebook will be an invaluable source of information for insurance industry representatives who want to move away from a conservative approach to business operations and implement innovative technologies into their company’s infrastructure.
Core Skills and Knowledge Gained from This Ebook
By studying the materials, you will be able to:
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- Identify which workflow processes in your insurance company can you automate.
- Determine the feasible technologies to create a digital solution for your business.
- Choose the necessary software product for your organization.
- Learn about the challenges of digitizing the insurance industry and learn how to overcome them.
- Ensure the security of your clients’ financial and personal data.
Ebook Content
- Statistical Data on the InsurTech Sphere: industry coverage with innovative technologies and insurers’ readiness for digitization.
- Overview of insurance companies’ transformation: the positive impact of AI-based tools on insurance business outcomes.
- Industry Challenges and How to Overcome Them: talent acquisition and retention, meeting customer expectations and experience, high costs of implementing new technologies, and other issues.
- Digital Transformation Platforms: various types of digital solutions for insurance companies and the benefits of their usage.
- Competitive Advantages of AI in Insurance and AI Technologies Shaping the Insurance Landscape: combating fraud, improving information handling quality, productivity growth, expedited decision-making, and other benefits of using various AI Technologies.
- AI-Powered Software Solutions: cloud-based solutions for brokers and commission tracking, comprehensive suites for policy administration, billing, and claims, and other types of AI-based software products used in insurance.
- Beyond AI: Innovative Tech Solutions Reshaping the Landscape: applying blockchain, Internet of Things (IoT), and Augmented Reality (AR) in the insurance industry, and addressing data security issues.
- Ethics and Legality of AI Usage in InsurTech: differences in EU and U.S. legislation regarding the regulation of AI usage in insurance and the principle of responsible technology use.
