Technology And Trends Shaping Insurtech In 2019 And Beyond

Multiple disruptive forces are reshaping the global insurance sector. Technology such as artificial intelligence (AI), machine learning (ML), blockchain and internet of things (IoT) solutions stand on one end, and nimble, innovative insurtech startups sit on the other. These technology advancements are forcing traditional incumbents to rethink their business models and accelerate their digital transformation strategies. In the coming months, insurance as we know it will undergo rapid transformational changes that include the following trends. Back-end workflows within the insurance enterprise (including underwriting) will be automated to a large extent using AI/ML.