With smart devices increasing among customers, the markets becoming mobile-heavy, and the digital getting rife, the insurance industry needs to deploy innovative technologies to ensure business continuity. Many insurers worldwide lean on custom InsurTech solutions to improve business efficiency across endpoints, win digital-age customers, and shape the future of work. According to the latest report, the InsurTech market is to grow at a CAGR (Compound Annual Growth Rate) of 36% in the next four years.
The post-COVID-19 world will no more be the same. Insurers worldwide are harnessing insurance software solutions to underpin their operations with transparency, speed, and agility. Besides, they rely on digital insurance solutions to shape a response to crises such as COVID-19, perform diverse business tasks remotely and build a connected ecosystem. Considering the continuously evolving customer needs and the changing market landscape, insurers seek bespoke InsurTech solutions to practice continuous innovation and stay ahead of the curve.
The insurance market all over the world was in turmoil in the first half of 2020. But according to a report published by CB Insights, the InsurTech companies strongly recuperated from the crisis in the second half of the year. This Whitepaper uncovers the industry insights on how the future of insurance will evolve in the years ahead. We have designed the Whitepaper in consultation with our InsurTech experts to help insurers learn about how they can leverage innovative technologies and build successful digital strategies to think beyond convention and modernise their legacy systems.
The Whitepaper elaborates on:
- Persistent insurance challenges, modern-day digital solutions, and business continuity strategies for the future
- The paradigm shift in insurance business processes and operations and fresh opportunities
- Changing market dynamics led by the increased usage of mobile, internet, and more
- The increasing role of InsurTech companies and the need for a digitally connected ecosystem
The global economy is reeling under turbulence as the COVID-19 pandemic continues to have a growing impact. Almost every industry segment has been hit by the rece… Read More