Artificial Intelligence (AI) Disrupts the Traditional Insurance Industry

For long, insurance firms have been relying on traditional virtual assistants. But with the advent of improved analytics, insurance technology startups (better known as Insurtech)are paving way for smarter and more innovative platforms. With strong data analytics, Insurtech startups seem to have no lack of funding. According to a report by KPMG, since 2015 the interest in Insurtech has increased dramatically. The report shows that Insurtech startups attracted more than $1.7 billion worldwide in 2016.