EXECUTIVE INSIGHT
“ I truly believe that empathising with people has made a difference to the businesses that I have been involved with ”
providers which are in a much stronger position to deliver insurtech and offer the full value chain . It is the experience of the industry and understanding the needs of insurers that confidently drives innovation . Tech-wise , a prominent insurtech evolution will be fuelled by abilities provided by a modern cloud infrastructure . The cloud offers insurers a wealth of advantages , with efficiency and flexibility being top of the list . In the cloud , insurers benefit from significant process optimisation , the ability to deliver a better , more customised customer experience , access to future innovation , the ability to rapidly react and adapt and much more , all of which have a positive impact on their bottom line when done well . The potential for insurers to thrive in the cloud is great and we hope more will be focusing on how best to make the leap . The cloud enables collaboration , which presents insurtechs with the opportunity to be supported by larger , established software providers and expand their reach while delivering insurers more convenient access to features via their core system . AI is also becoming a prominent power for insurtech , ushering in a new era of data-driven insurance . And of course , insurance companies have a wealth of data at their doorstep . What a great time to unleash data potential .
Q . WHAT ARE THE BIGGEST CHALLENGES FACING THE INSURTECH INDUSTRY ?
» We continue to encourage the insurance industry to catch up with other industries to become fully digital . By leaping into the digital era and delivering
22 September 2024