InsurTech Digital Magazine November 2024 | Page 96

AI
spending on information security in the insurance sector expected to reach US $ 9.2bn by 2025 , according to Gartner .
The customer experience overhaul in insurance is not about adopting new technologies ; it ’ s about fundamentally rethinking the insurer-policyholder relationship . “ Consumer Duty presents an opportunity for insurers to refine their operations and improve customer outcomes . By leveraging AI , insurers can enhance their understanding of customer needs , streamline claims processing ,

“Testing is an essential stage in the implementation of any new software ”

RYAN JAMES MANAGING DIRECTOR , NFOCUS TESTING
96 November 2024