Safekeep at InsurTech NY: Emerging Technologies – AI, RPA and IoT
InsurTech NY Event Details The distribution of technology is not equal. COVID has brought to light how the distribution of technology can quickly compound into changes in market share and ultimately wealth. Industries that are predominantly connected to physical interactions were immediately penalized as the world moved digital nearly a month.
The insurance industry falls somewhere in the middle of the distribution of technology scale. Most life insurers still rely on medical exams and blood samples to bind a policy. Most commercial insurers require in-person inspections on new policies and in-person adjusters to adjudicate claims. However, some personal lines carriers and startups like Lemonade have advanced to the point they complete the entire customer lifecycle in a digital world.
Insurers that take the cue from COVID as a warning sign of the impact of emerging technology on their industry, they will have a unique opportunity to improve efficiency, reduce combine ratios, and win more market share. Low hanging fruit exists across the value chain from quoting to underwriting to claims.
Learn through this event how to build the business case for emerging technologies and integrate them into your existing systems to stay ahead of the curve. See how carriers and brokers are using RPA, IoT, and AI to improve their business.