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The ‘Digital’ Insurance Broker

The technological advancements brought forth by insurtech will soon become routine for brokerage offices within the next few years. Digital-first approaches have finally trickled down, turning ripe for adoption for this major distribution channel. However, broker adoption has still not caught pace with their agency counterparts. According to a 2019 report surveying independent insurance brokers […]

Disruption Vs Innovation in Insurance

People concerned with insurance have been using the terms- ‘innovation’ and ‘disruption’ interchangeably, perhaps because both correspond to building something ‘new’. However, there is a fine line between the two. All disruptors are innovators whereas, not all innovators are disruptors. Let’s delve deep into the difference between disruption and innovation in insurance. Who are the […]

The 5 hidden problems for Insurtech

For Insurance giants, the marketplace is changing. For young insurtechs trying to displace these giants and keen on disrupting the landscape altogether; the next big market is becoming plain and obvious: Millenials and the generations that will follow them. A new wave of AI-driven technologies is making subtle changes to the way young people are […]

Autonomous Vehicle Insurance: The Present and Near Future

We’re about to witness the evolution of autonomous vehicles from Level 0 to Level 2. While Level 0 is completely human-driven; Level 1 vehicles can control braking and parallel parking themselves. Level 2 vehicles can operate automatically, but with a human ready to control exceptional situations. The success of self-driving cars depends solely on the […]

Here’s How You Measure the ROI from Chatbots

IBM reports that globally businesses spend over $1.3 trillion/year to handle roughly 265 billion customer calls. Chatbots spring up to minimize the expenditure on handling customer queries, especially the most redundant ones. It’s quite common for businesses to assess the return on investment before adopting new technology. However, ROI from chatbots may vary according to […]

Are Bots Worth a Shot?

According to Oracle’s Executive survey, 80% of leading consumer-facing businesses have already used or are planning to use chatbots by 2020. Chatbots are scalable and cost almost nothing in operation as compared to their human counterparts. But, how practical is chatbot adoption for your business? Let’s see. 5 Key Success Metrics for Chatbots Different industries […]

The Netherlands Insurance Landscape in a Nutshell

‘What more could people want’ in a nation that already ranks highest in terms of press and economic freedom, human development, quality of life, and happiness? On another note, insurance companies and the government must have been doing something right — over 99.8% of the Dutch population is insured!  This might portray the Netherlands as […]

Can Distributed Ledgers Accelerate Insurance Workflows?

The years 2018-19 are the banner years for the US$ 5.17 trillion global insurance sector. However double-booking, counterfeiting, and premium diversions through unlicensed brokers still throb insurance companies. And one of the prime reasons for such unethical activities is the lack of tight coupling between stakeholders. A simple solution to these challenges is distributed ledgers- a […]

Why automate insurance agent onboarding?

Globally, over 90 percent of agents leave their organization to pursue opportunities outside the insurance industry. Thus making the agents onboarding process a continual recurrence for the insurance companies. Organizations, as well as agents, crave for easy onboarding instead of long trails of paperwork. Simplifying documentation and data entry right from the beginning can be a […]

FlowMagic — The Visual AI Platform for Insurer Workflows

For any operational effort across large organizations, a significant amount of time and resources are spent manually inputting data into downstream systems. These processes more specifically affect insurance practices that are deeply reliant on back-office processes. The bulk of the insurance workforce is condensed into operations and support functions (e.g. policy issuance and servicing). Here, […]

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