detect fraud more effectively , and ensure compliance with new regulations . These advancements not only help meet the requirements of the Consumer Duty ; they also position insurers as leaders in an increasingly competitive market ,” says Greg Cole .
Daniel Cole says : “ The future of AI in insurtech promises transformative advancements across several key areas . Companies are increasingly leveraging advanced analytics and predictive modelling to personalise insurance products and improve risk assessment accuracy . AI-driven chatbots and natural language processing are enhancing customer service and claims processing efficiencies . There ’ s a strong focus on AI for fraud detection and proactive risk management , alongside efforts to enhance customer experiences through personalised offerings .”
As the industry moves towards more proactive , personalised , and data-driven models , the lines between insurance , risk management , and lifestyle services are blurring . The insurers that successfully navigate this transformation will likely emerge as the leaders in an increasingly refined market . insurtechdigital . com 97