For 2023, we believe that InsurTech will be used to supplement the rising concerns of inflation, arrested economic development, and heavily burdened pension schemes by catering to customers with greater attention to detail. 

# Digitally Enabled CX 

Insurance models in the present context have become bloated and complicated to the point where customers feel alienated. Customer needs are also converging across a wide range of areas: health, retirement, and investment management, to name a few. Simplifying the existing delivery model is key, and one such model that is likely to emerge is that of being a ‘distribution specialist’.

These firms are predominantly client-centric and extremely capital-light as they do not take on balance sheet risks. These firms will invest heavily in client-facing technology, and those that curate a delectable insurance discovery and delivery experience will have a huge leg-up over their peers. These developments are in line with Gartner’s predictions for the InsurTech industry, where digitally enabled CX is listed as a key success factor for InsurTech in the coming years.

# InsurTech native Telematics

Analysts and experts alike have been citing usage-based insurance programs as the next big thing in the world of insurance for nearly two years now. But how effective can usage-based programs be if they rely entirely on the customer to predict their decisions and make purchases accordingly? 

This is where telematics systems come in. As cars become increasingly ‘smart’, it will