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.

Sensor fusion is the use of sensory data from multiple sources, combined into one comprehensive result for more accurate, complete, and dependable, business intelligence and security applications. "IoT devices, security cameras and other data capture sensors are practically everywhere," said Nadir Ali, CEO of Inpixon. "The challenge is to filter the information captured by those devices, so it can be processed and analyzed in a meaningful way. Inpixon has extensive experience in radio frequency data fusion, which we believe we can leverage due to the similarities between radio waves and the light waves captured by CCTV cameras. "Location is the lynchpin," continued Mr. Ali. "To know what's going on in your building -- for security purposes, for sales or customer service purposes, or for applications like location-based marketing or augmented reality -- you must know the location of persons and electronic devices in your space.