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Adoption of Chatbots across Insurance

The global chatbot market is expected to reach USD$ 1.25B by 2025, and generate roughly $8B savings globally by 2022 itself. With chatbots disrupting a wide variety of industries already, the technology is becoming more popular in a variety of business use cases – especially within the insurance sector.   Chatbots are becoming more advanced […]

A Sandbox Approach in Insurance

The insurance industry has reached an evolutionary crossroad. The fast-evolving world of InsurTech mandates that insurers become digitally agile. With Fintech solutions becoming more common, a responsive approach would enhance the ability of promising insurance innovations to develop and flourish. There are various technologies stepping into the value chain to enhance and disrupt the way […]

Cognitive Approach VS Digital Approach to Insurance

Digital transformation has gone from talk to action, with a momentum that shows no signs of slowing down. As cognitive capabilities have penetrated process, people, technology, things, augmented intelligence and decision making; the cognitive approach to insurance business is no longer considered a back-office ‘efficiency play’.  A cognitive computing system replicates human intelligence and comes […]

Smart Devices for Smarter Insurance

With the advent of AI and cognitive automation at a rapid pace, there has been a holistic approach to insurance automation. Automation and IoT are already a reality for insurance. As per reports, AI in insurance reduces premium costs up to 25% while automation can help cut the claim processing cost by 30%. Innovation and […]

Key Takeaways of Indian Insurance Summit & Awards 2019

India, despite being the 2nd most populous country on the planet, accounts for only 1.5% of the World insurance premiums, and 2% of World life insurance premiums. But, with the increasing numbers to serve, the insurance market in India promises huge growth and exciting potential – were only about 20% of Indians were insured last year. […]

A Reactive Approach to Security can Catch Insurers Off-guard.

On July 2018, SingHealth, the largest network of healthcare institutions in Singapore, had been under a severe cyber-attack and the personal data of around 1.5 million patients, including those of Prime Minister of Singapore, Lee Hsien Loong, was stolen. – Straits Times reports The insurance industry is one of the richest data-driven business, and the consequences […]

Strategic Technology Trends in Insurance

“Strategic technology trend is one with substantial disruptive potential, that is beginning to break out of an emerging state into broader impact and use, or which are rapidly growing trends with a high degree of volatility reaching tipping points over the next five years”, says Gartner. These technology trends shall enable insurers to expand into […]

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