Take a look around, and you are bound to see that technological innovation is acting as the driving force for any industry today. And needless to say, insurance companies are also among those modern organizations that heavily incorporate the latest technological innovations to improve their efficiency and customer experience.
Among several technological strides, utilizing blockchain tech is a crucial, innovative strategy that insurance companies are rapidly adopting. Thanks to its core tenets of decentralization that all departments (IT, claims processing, or underwriting) can access records simultaneously. This is saving a significant amount of time and effort in record keeping and information processing. Also, since blockchains share data with all departments, including third parties providing valuable data, such as meteorological agencies and field agents, insurance companies are evaluating risk with minimal effort. Besides, with a higher data accuracy more rate, the chances of fraudulent claims are also on the decline.
Meanwhile, AI-based robo-advisors are stepping into the picture to help insurance companies in meeting clients' needs at any time of the day and without any deferral. From collecting customer data and processing queries to even underwriting new policies, robo-advisers take care of all the routine and repetitive insurance operations that do not need human intervention.
At this juncture, there are numerous insurance tech solution providers that are playing a vital role in the insurance industry by deploying smart, connected technologies. Hence, to assist insurers in choosing the right insurance tech solution provider, a distinguished panel of CEOs, CIOs, VCs, along with the editorial board of CIOReview APAC, has selected the leading insurance tech solution providers who can help you stay ahead in a competitive industry.
We present to you CIOReview APAC's "Top 10 Insurance Tech Solution Providers – 2021"