INSURANCE the best of digital and human processes at the same time . This is especially true in claims . AI-based claims automation providers , such as Omni : us , substantially reduce the need for manual claim processing . This frees up claims handlers to focus on complicated cases that may require an increased level of human interaction and empathy with customers .”
How will insurtech evolve in future ? With the number of fintech options available to consumers constantly growing , it becomes important to target the right products in the right places . Consumers are used to seeing travel insurance as part of the checkout process for their summer holiday , or contents insurance when they buy high-value electronic items such as laptops or televisions .
As the technology becomes more accessible , these placements will become even more commonplace , and it ’ s possible that consumers will become more demanding . AI can help to provide better product recommendations by utilising more data about consumers , their interests and their behaviour .
“ Insurance is already embedded in many products and consumer experiences ,” Paul Morgenthaler continues . “ I certainly expect embedded insurance propositions to become even more prevalent , given how seamlessly these solutions can be integrated into checkout processes with technology .”
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