Introduction In recent years, blockchain technology has emerged as one of the most influential innovations in various industries, bringing revolutionary changes that are altering the way business is conducted. Among the industries that are likely to gain the most from the potential of blockchain, the insurance sector is one of the most promising. Historically marked […]
Introduction In the international financial environment, insurance has traditionally been viewed as a product for the affluent, one that serves mostly high-income individuals. Yet a new consciousness has begun to develop that insurance offerings, particularly those intended for risk management and protection from uncertainties of life, can and ought to be made available to everyone.
Introduction The Ethics of Predictive Insurance Analytics: What Happens When AI Decides Your Coverage In today’s world, artificial intelligence (AI) is profoundly changing industries, and the insurance industry is one of the most impacted. Insurance firms are increasingly using predictive analytics driven by AI to determine risk, determine premiums, and customize policies for individual customers.
Introduction The world of insurance has changed dramatically in recent years with the widespread integration of big data. With an increasing number of industries relying on data to inform their decisions, the insurance market has not remained untouched by the revolution. Big data offers insurers the chance to improve the accuracy of their risk calculations,
Introduction Mobile insurance apps have developed dramatically over the last ten years. With the insurance sector looking more and more towards technology, these applications have changed from simple management tools for policies to complex platforms providing a myriad of services. Now, smartphone insurance apps are a key element of the insurance landscape, where customers can
Introduction The modern workforce is witnessing a deep change wherein the conventional model of employment is being reshaped by the emergence of independent work. Gig workers freelancers and part-time workers now constitute a huge chunk of the workforce globally. These workers tend to work on short-term contracts temporary jobs or task-based tasks instead of permanent
Introduction Over the last few decades the United States has seen a profound shift in its environmental landscape fueled by the increasing impacts of climate change This shift is now becoming increasingly entwined with the financial systems that support individual and commercial security most prominently the insurance industry As the climate continues to change with
Introduction Insurtech short for insurance technology is a generic term that refers to the creative application of technology to make the insurance sector more efficient and effective It is a digital revolution that affects every part of the insurance value chain ranging from product design and sales to customer support and claims settlement The idea
Introduction Over the last few years the automobile insurance sector has witnessed a dramatic shift owing to the increasing popularity of usage-based insurance also referred to as UBI Unlike old-fashioned car insurance schemes based on generalized presumptions like age location and driving record UBI takes a more customized and dynamic approach that gauges premiums based
Introduction The insurance sector has traditionally been characterized by slow turnaround complex processes and excessive dependence on manual handling especially in the claims management space These issues usually result in inefficiencies mistakes higher operating costs and customer dissatisfaction With the emergence of cutting-edge technologies the insurance sector is experiencing a radical shift Among such technologies,