How Insurtech will Influence The General Insurance Business

Technology is driving changes in almost all major business verticals in India be it FinTech, HealthTech, EdTech AgriTech or Insurtech. Adoption of technology for any industry is no longer an option, but has become a necessity. Anyone who doesn't embrace this change is going to be left behind, as technology is re-moulding the fundamental way of doing business. InsurTech in particular is a hot topic of discussion right now, owing to both - the vast capital infusion in recent months, and also the growth opportunities it represents. It's easy to get bogged down by the various forms of tech that are attacking the insurance space - Internet of Things (IoT), Telematics, Blockchain, Smart Contracts and Artificial Intelligence (AI), Machine Learning (ML), etc.