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InsurTech CEO’s

Alessandro Bartolucci

BeSafe Rate: Optimizing essential processes for hospitality

A passionate hotelier since 2006, Alessandro Bartolucci, has always placed innovation at the centre of his business objectives. To revolutionize the hospitality industry, he founded BeSafe Group, which offers a complete collection of digital tools suitable for hotel and non-hotel accommodations, developed to simplify hoteliers’ life. BeSafe products aim to optimize and digitalize essential processes for hospitality and travel. In the interview, he speaks on an array of topics. Excerpts:

Conception of BeSafe Rate

The primary need was to create a bridge between two worlds that didn’t communicate seamlessly before: the insurance industry and the travel market, observes Alessandro. “All this while catering to the needs of my business, as well as the overall happiness of travellers who would choose to book their holiday at my accommodations. I wanted to create a product that would secure and guarantee prepaid collections, while offering a better experience and services to guests, in a way that classic “non-refundable” rates just couldn’t.”

Nir Perry

Cyberwrite: AI Cyber Insurance Platform for Brokers, Carriers, and SMBs(small and medium-sized businesses)

Nir is the founding CEO of Cyberwrite, an AI cyber insurance firm that enables the prediction, quantification, and mitigation of the financial impact cyberattacks have on businesses and helps them purchase the cyber insurance policy they need. This is done through the Cyberwrite broker network which spans 50 states and includes hundreds of agencies and thousands of brokers. Cyberwrite provides its patented risk analysis platform to simplify cyber risk into terms that brokers and business owners can easily understand and act upon. Founded in 2017, the company delivers more than a quarter of a million cyber risk reports a year, is active in over 20 countries, and its product is available in six languages. Nir holds an LLB, and an MBA from the MIP Business School in the Politecnico di Milano in Italy. He has been working for over 22 years in cyber risk management for global insurance companies and banks consulting industry leaders such as Allianz and Deutsche Bank.

Excerpts from an interview:

Marci De Vries

Fraud Sniffr: Exposing Inflated Insurance Claims Using Social Media Data

When a Philadelphia attorney wanted to investigate a person who had been at fault in a severe car accident, he reached out to Fraud Sniffr, a social media investigation solutions company, who identified and verified the person’s social media profiles. It was found that he was one of the main organizers of the car club that has been performing illegal car driving stunts for the last three years. The police report indicated the person who caused the accident was going 73 mph in a 25-mph zone, which was a behavior consistent with the social media findings. Fraud Sniffr’s report, eventually, helped the attorney to establish a history of reckless driving, which allowed the accident victim receive more appropriate compensation for their injuries. This is only one of the many cases investigated by Marci De Vries and her experienced team who are on a journey to expose obviously inflated or untrue insurance claims using social media data.

It is been reported that insurance fraud steals at least $308.6 billion every year from American consumers; fraud occurs in about 10 percent of property-casualty insurance losses.

Cory Isaacson, CEO

reThought Insurance: Re-designing insurance requirements

An experienced software executive, Cory Isaacson has run over seven companies in his career with 5 successful acquisitions. As the co-founder and CEO of reThought Insurance, a technology-focused startup, Cory has helped reThought enable new levels of capabilities driving high-risk and high-potential markets for its insurance partners. reThought provides innovative solutions for challenging markets, using precision underwriting to meet end-customer needs at competitive prices. The company operates on 3 founding principles: Technology, Transparency, Trust. By building the trust of its partners through advanced technology and data solutions, reThought can deliver insurance capacity to fulfill market needs, becoming a source of continuous innovation and growth for the carriers and reinsurers we team with. Cory also has the distinction of being named inventor on 5 patents. He has authored numerous technology articles for a variety of publications. He has also presented talks at many technology conferences, addressing 1000s of software professionals. In addition, he has authored the following books: Software Pipelines (Addison-Wesley, 2008), and Understanding Big Data Scalability (Prentice-Hall, 2014). His expertise lies in building startups, technology management, software architecture, big data, software product design, high-performance computing, software product marketing strategy, distributed computing, Java, and database scalability. In an interview, he speaks on an array of topics. Excerpts:

Bruce Lucas

Slide: Creating a profitable insurtech for a secure future

Bruce Lucas is the Founder and Chief Executive Officer of Slide, a full-stack insurtech that leverages cutting-edge technology to deliver a digital-first, hyper-personalized insurance experience. Although it is a start-up year, Slide has already become one of the largest P&C insurtechs in the nation by revenue, and it is the first to be profitable.

Bruce is regarded as one of the top P&C insurance executives in the US, and is internationally recognized as a top insurtech influencer for his leverage of Big Data and cutting-edge technology. His vision is to create the insurer of tomorrow by transforming all aspects of the insurance process, including operations, claims, underwriting, customer and agent experiences.

Prior to Slide, Bruce founded super-regional insurer Heritage Insurance, where he served as CEO and Chairman of the Board. He grew the company from a single-state startup to over $1 billion in annual revenue in 15 states, maintaining profitability and stability every year of his 9-year tenure.


Redefining Compliance and Mitigation Risk Practices

AAAtraq is a Compliance Identification and Management Service (CIMS) that helps organizations identify risk. The service provides a clear pathway to ADA compliance, reducing risk in the process. AAATraq provides a holistic solution to fragmented and difficult-to-navigate compliance solutions by placing insurance risk management at the heart of its proposition. In the process, the company supports the insurer by reducing organizational risk, providing a new and substantial sales opportunity for brokers, that is welcomed by clients. AAAtraq’s single solution accurately identifies an organization’s risk exposure and provides a clear way ahead to ADA compliance. Lawrence Shaw, CEO AAAtraq is a man on a mission. His aim is to help organizations understand the value of compliance automation, while protecting brand reputation. For this tech-savvy entrepreneur, e-service delivery has always been a major focus. Excerpts from an interview with Lawrence Shaw:

AAAtraq – The Story Behind: According to Lawrence, organizations operating across society constantly struggle with compliance. Moreover, adhering to regulations takes significant time and effort.

George Tsintzouras, CEO & Co-founder, Alert Labs

A Solution-maker in Action

When asked about the secret behind his success, George Tsintzouras pointed out the sweet spot between hubris and humility which is the key to achieving great things. “Being an entrepreneur is to strongly believe that your company’s solutions can fulfill the demand in the market better than all the other solutions available, but there’s also the need for equal humility,” opines George, CEO & Co-founder, Alert Labs.

George is a blend of passion and confidence that allowed him to build the most innovative commercial-grade solutions for property/facility managers, building owners, and contractors to help manage water usage, reduce utility bills, and minimize property damage. Being a consistent solution-maker, George’s aim through Alert Labs is to leverage the best insurance technology to empower insureds with a proactive approach to avoiding water damage claims.

The Beginning of an Epiphany: While on a business trip, George received a phone call at 3 in the morning from one of his tenants who complained about major water damage at his rental property.

Brandon Gell, Founder & CEO

Simple and Intuitive Product Protection

“I enjoy driving people toward a similar goal to make sure we’re all aligned around the same priorities,” says Brandon Gell, Founder & CEO of Clyde Technologies. Clyde is a simple-to-integrate extended warranty platform that helps businesses drive greater revenue, brand loyalty, and customer lifetime value. Clyde leverages technology and a competitive network of insurance partners to offer extended warranties and accident protection plans on a huge range of products for retailers of all sizes. Plans cover warranty extensions, wear and tear, water damage, and even accidents. Gell is an empathetic leader who is always working to prioritize plans that will help Clyde better serve retailers and their customers. Thanks to his efforts, expensive and technically challenging extended warranty programs that took six months to fully integrate were transformed into an easy to set up, 3-minute implementation.

Revolutionary Warranty Plans: Initially, Gell was working at a startup that was designing, building, and selling an advanced technical 3D scanner.

Tanguy Touffut, CEO & Co-founder-min

Redefining Parametric Insurance through Cutting-Edge Technology

Descartes Underwriting is a Managing General Agency that works on behalf of a selected number of first-tier insurers, re-insurers, and insurance-linked securities funds. Founded in 2018 by seasoned insurers and entrepreneurs, Descartes Underwriting provides best-in class risk modelling, world class design bespoke and innovative insurance covers. Drawing its name from René Descartes, one of the greatest European scientists, philosophers of the 17th Century, the company draws advantage from new data sources, growing exponentially and challenging the approach adopted by traditional insurers.

Parametric Insurance – Resilient to Insurance Sector: Tanguy Touffut, CEO & Co-founder of Descartes Underwriting noted that the company was founded with the belief that greater use of parametric insurance will make businesses more resilient in the face of climate change and that innovation will come from start-ups rather than large groups. “Since then, we have designed a new generation of insurance products, based on new technologies, satellite imagery, IoT and data analysis. In comparison with traditional insurance, parametric insurance products have a different compensation mechanism,” he observed.

Digitech Africa Ltd

Re-creating Insurance Value Chain in African Continent

As a specialized service offering insurance, new information and communication technologies to the African region, Digitech Africa Ltd (Digitech) offers comprehensive solution package covering the entire gamut of insurance value chain. Founded in 2018 in the Seychelles, the company’s solutions are based on new information and communication technologies. The company also offers the opportunity for businesses to enter the digital age by internally dematerialising certain functions and by externally strengthening their productivity and competitiveness through new digital interfaces.

Insurance Sector – Competitive & Dynamic: Noting that the risk value chain in Africa is quite disunited and fragmented, Alexandre N’djore, CEO, Founder, Digitech Africa Ltd noted that the insurance chain is a vicious cycle. “It goes all the way from the re-insurer to the insurer, to the insurance broker and other intermediaries and finally to the policy holder. This leads in a generally low insurance penetration of around 3% (excluding South Africa with a total penetration of 13%)” he observed.


Dobby - Revolutionizing Home Maintenances Services

As the smartest and fastest way to manage, maintain and upgrade homes, Dobby has been pioneering digitization & Artificial Intelligence (AI) in the $16T US residential property market. The founders have a vision to make the insurance company ‘the Operating System for American homes.’ Dobby also collaborates with small and independent businesses & operators thus, partnering and encouraging local communities to thrive. Through the fully digitalized Dobby app, the company intends to bring American home ownership into the 21st century with digital transformation, AI and a socially conscious community that would benefit everyone.

At the helm of affairs at Dobby is Satadru Sengupta, Co-Founder & CEO of the company. A high-caliber data scientist and a result-driven leader, Satadru is a staunch believer that communities at large could be recipients of the wonderful outcomes technology can bring out. Excerpts from an interview: Dobby- The Story Behind: The founding idea of Dobby, which was called ‘Halos’ initially, was to bring in a ‘useful’ home insurance product that not only pays the home owner after an incident but also helps him protect their biggest asset, through regular and timely maintenance, upkeep and upgrades.


The Theoretical Physicists of Hazard Data

“Theoretical physics isn’t hard to a skilled physicist. We’re like the theoretical physicists of hazard data. It’s our specialty. It’s what we do,” says Bob Frady, CEO of HazardHub. HazardHub provides complete property-level hazard risk databases for threats and natural disasters that destroy and damage assets. Bob, Brady Foust, and John Siegman decided to start HazardHub when they realized there were massive amounts of new technologies and new data that were not being used.

A Flood of Opportunities: The idea for HazardHub began when Bob’s friend’s house flooded. She didn’t live in a flood zone, so she didn’t think about flood insurance. But unfortunately, she lived only about 100 feet from a known flood zone. Bob and John gathered up all the available data and asked her if anyone informed her that she lived right next to a flood zone. When she said no, Bob, John and Brady realized that they had to build a platform that goes the extra mile. “We thought that there should be a place where anyone can go to see the risk of their property,”. The three co-founders immediately came up with some design screens and once they received a positive response from a potential partner, that seed of an idea grew into HazardHub.


Creating Next-Gen Insurers and Financial Consultants

Focused on the global insurance market, IFAAcademy specializes in imparting education and training to insurance and financial consultants. In an effort to rebuild financial and insurance consulting industry, the company plans to re-engineer and rebrand the insurance advisors. Through implementation of risk management for scientific insurable assessment and risk profiling, IFAAcademy uses cutting-edge neuroscience research on risk perception and decision-making methodologies.

Panos Leledakis, Founder & CEO, IFAAcademy believes in a vision to help transform insurance advisors to the new scientific ‘InsurableRisk managers’ and to be the architects of a safer world. Excerpts form an interview with Panos:

IFAAcademy – The Story Behind: Panos noted that insurance played a pivotal role especially in today’s complex world. “Unfortunately, despite its importance, the sector suffered a setback in terms of the way it is perceived by many people and its penetration into various societies too remains very low globally. He observed that not many people want a career as an insurance advisor because it is not considered as a respectable profession by many.

Oliver Werneyer, Chairman and CEO

Accelerating Innovation within the Insurance Sector

An intelligent and energetic entrepreneur Oliver Werneyer remains a true testimony to how a successful entrepreneur can address complex and often diverse challenges. Excerpts from an interview with Oliver Werneyer, Chairman and CEO, IMburse AG.

The Entrepreneurial Streak: Oliver Werneyer’s tryst with entrepreneurship began at the age of 16, when he started buying and selling computer equipment. He says that as a youngster, playing computer games was one of his hobbies. After he received his first PC, he started looking out for the best deals in his zest to keep upgrading it, until one day he got hold of a pricelist where everything was 40% cheaper than in the traditional retail shops. “Turned out it was wholesale only and they would only sell to registered companies. The very next day a friend of mine, Sven Arend and I registered a company and returned to buy PC parts. Over time, friends and family also wanted to buy through us, and before we knew it, we had a small, but successful business, all while still in high school.”

Genadi Man, Co-founder and CEO, kasko2go

Better Insight for Greater Success

Anybody can set striking missions and lofty goals, but only a few gains the insight to fulfill them. Genadi Man is one among the few. Being a serial entrepreneur across industries, Genadi was entirely new to the insurance sector when he co-founded kasko2go—a game-changing motor insurance solution for safe drivers. Little did he realize that this concept will become a true disrupter in the motor insurance business.

Believing that “insurance justice is for everybody,” kasko2go creates the ecosystem which grants safe drivers with much lower insurance premiums and finds low risk customers for insurance companies. “Safe drivers should be rewarded by paying less, no matter what nationality they are. Especially as they all contribute to safer streets,” notes Genadi.

Transforming the Industry: With the kasko2go solution approach, there is a real and enormous potential to change the entire industrial landscape in terms of motor insurance. They have created a new and profitable win-win situation for both the industry and the customers.

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Revolutionizing Ratings within Insurance Industry

RealRate is an independent rating agency that analyzes life insurers by creating fully automated and explainable company ratings for customers and brokers. With the help of Explainable Artificial Intelligence (XAI), RealRate generates an interpretation of companies’ financial strength within a very short span of time.

Holger Bartel, CEO RealRate has been a keen player in the risk management and financial markets. He has been the brainchild behind founding of a number of startups too.

RealRate – The Story Behind: Explained Holger that when he was working in the insurance industry as appointed actuary, he had to explain the risk management strategies to the rating agencies, who perform the annual rating. “That was a highly cumbersome, expensive and time-consuming interactive approach. And even worse, I understood that the agencies weren’t independent, being under pressure to produce a good rating in order to be commissioned again next year.” [

Philip Charles

A New Play on Old Technology

“If you don’t find yourself giving it your all you may be starting the wrong business,” says Philip Charles-Pierre, CEO of Semsee. As the builder of three companies from the ground up, he knows this well. Semsee is an automated small commercial quoting solution for insurance agents, giving them a new way to sell insurance. While he’s focused on insurance today, Charles-Pierre has multi-faceted experience in building technology for travel, publishing, and real estate, leading to success with three entrepreneurial ventures. His achievements drew the attention of D.E. Shaw Group and Nephila Holdings, who funded Semsee, and Charles-Pierre was named the CEO. Within one year of its launch, Semsee has nearly 20 carriers on the platform and offers multiple lines including BOP, Workers Comp, and Commercial Auto, and is continuing to add more. Today, it is the go-to platform for independent insurance agents.

An Unconventional Start: Being the head of an insurtech startup, Charles-Pierre considers his educational background unconventional. He graduated with degrees in international studies and philosophy, initially hoping to go to law school.


Building Resilience within Insurance Marketing

As a panoramic performance marketing company focused on building resilience for its partner brands, Visiqua’s insurance arm has been popularizing many new concepts within insurance marketing. While it introduced and popularized the Pay Per Call Warm Transfers, it also earned the distinction of adopting a new approach to an existing insurance click-based market and introduced a ‘right price bidding tool’  through their platform, Clicks to Convert. Clicks to Convert ensures that advertisers do not overpay for traffic in a secondary click exchange. Visiqua’s other innovative product was the launch of Call Ping Tree. Bringing existing technology focused on leads, to the performance call space. This allows advertisers to bid on and buy calls in real time. David Walsh, CEO Visiqua is an acclaimed name in the industry. His performance-driven strategies coupled with technological innovation has helped him drive companies towards transformation and growth.

Pay Per Call Warm Transfers: David notes that warm transfers are part of the larger customer journey and understanding that picture is key to success.


Withstanding the Digital Unknown

Zeguro is a pioneer in insurtech. It was the first to combine cybersecurity and cyber insurance. Today, Zeguro is a holistic cyber risk management platform. It protects organizations from cyber risks, mitigates those risks, and reduces the loss businesses suffer when they are attacked. “When we founded Zeguro, we knew there was an opportunity to improve the customer experience around cybersecurity and cyber insurance. But we also knew we’d only get it right if we aligned ourselves to the needs of our customers,” says Sidd Gavirneni, Co-founder and CEO of Zeguro. Having lived in multiple countries and being exposed to their rich cultures, Gavirneni was insistent on building a diverse team from the start. “It’s no secret: diversity fosters team empathy which flows into customer empathy and helps us better solve customer problems.” This founding principle has directly translated into positive results for our customers and partners. Customer-Centricity, Always: “From the start, customer experience has been overlooked in insurance, especially in the complex and fast-changing cyber insurance space,” says Gavirneni. No question about it, there’s a surge of insurtech startups that are focused on providing an improved customer experience.

business man try to build wood block on wooden table and black background business organization startup concept

What are the hidden challenges for insurtech

Believe it or not, every coin has two sides. Likely, where insurtech serves with a number of benefits and customers satisfaction, there are also few hidden challenges for this industry. The insurance sector is completely changing for the business giants. Now there is why behind every what and with the help of technology we have answers for all such questions too. Folks of this generation is much more techie and seek answer for their each question. This raised a need of digitization in insurtech industry and also gave a rise to several challenges in the transformation of complete industry to the digital platform. Apart from this, there are several challenges faced by this industry. Few of those are discussed here.

Connected ecosystem: A well connected business ecosystem is required for the insurance sector to keep the process fast-paced. A single platform has the potential to connect all the participants with each other to communicate, rising the standards higher and also making the sector more competitive.

Hand holding phone, touching insurance app icon on smartphone screen.

What is new in the insurance industry?

Insurance sector was one of those sectors which were untouched from the advancements and was continuously using the traditional ways to serve customers.  In the recent years, this sector has undergone a huge variation with the help of technological developments. There are a number of technologies which has been playing a crucial role in the expansion of this sector with enhanced user experience. The technology has brought mobile apps, automated claim processing bots, online policy handling features, and more. Apart from these benefits there are many more hidden aspects in this sector which has been developed for amazing user experience. Here we have included few facts related to insurtech that gives a clear picture about this industry and its future growth.

Impact of technology on insurance industry: Now the game of insurance sector is going to be changed forever. Since last many decades, insurance sector was more likely to be in the favor of the industrial growth. Now, with the emergence of technology, it will be all about the customer services, their satisfaction, and attention grabbing offerings.

Phases you must know about insurance technology solutions

Phases you must know about insurance technology solutions

Integrity, excellence and reliability are the major aspects which a business seeks for its development. In present competitive world, insurance sector is also boosted with these three crucial factors and the major platform that has incorporated all these qualities into the insurance sector is digitization. Digital transformation of insurance technology is constantly giving new values to the sector to grow further and attract more insurers for investment with peculiar business solutions. Innovation is undoubtedly a key for the successive growth and here in the insurance sector also innovation is creating miracles in the business industry. Digital presence is continuously giving new ways to the insurance sector to explore various sectors and expand with greater assistance.

The main intention behind the insuretech is to bring excellent benefits with increased efficiency and lower cost. There are various technologies involved in insurtech are artificial intelligence, digitization, blockchain, etc. every technology involved in insuretech has its great significance in making the sector amazing and convenient for customers.

Top technologies influencing insurance sector

Top Technologies Influencing Insurance Sector

Just like other sectors are undergoing great and swift changes with the help of latest technologies, insurance sector is also having a great impact of technology. Comparing with the last decade, now a number of advancements have been witnessed by the sector in last few years. There are a number of insurance sector’s components which has a great development and now a number of agencies are availing the benefits of certain changes. Making changes in the industry has benefited customers too which is keeping them much inclined towards the insurance industry and is helping the insurance companies to hold their clients for a long time. The most effective and responsive changes made by the technological development in the world of insurance sector is the use of mobile application which has made this complete sector much handy and has wrapped it in a single mobile application. Distinct data is required by the insurance sector to operate effectively. A future prediction is crucial for enhancing the functionality of insurance sector. With the help of predictive data analysis insurance sector is able to analyze the data related to each of its component and also its customers and then can make future predictions for making decisions.

Technological solutions for insurance sector

Technological solutions for insurance sector

Technical growth is having a great impact on insurance sector; in fact it is one of the prior most sectors in finance industry to introduce digital platform for better customer’s experience. There are a number of amazing features introduced in the insurance sector in order to scale up the facilities offered by it. Major improvements have brought the insurance companies in a close contact with customers and serving them better by knowing them better. Now with the help of technology, service providers are able to track the history of customers and can serve them customized solutions making their experiences more effective and productive. It is a fast track world where people are willing to get a solution for their requirement on their fingertips. No more time for long queues and long manual procedures. It’s time to enjoy the fastest procedures initiated by the digital systems providing solutions in the least possible  time, boosted with the technical assistance of artificial intelligence, data science, and machine learning. Insurance sector need to handle a huge data base of each customer right from the beginning which makes it a difficult task for the companies and also very slow.

Solutions boosting insurance technology

Solutions boosting insurance technology

World is going digitized, and every business sector is restoring its position in the digital platform at a fast pace to keep them in the competition. Where almost the world already onboard and gone so far, insurance sector is also hitched with the technological growth and making its own space in this high tech world with amazing trends and techniques. At present time, insurtech is becoming a major center of attraction in the finance sector as its myriad digital trends is completely transforming and converging to create new experiences. The sector is completely fueled by the latest technologies give a number of reasons for customer retention and new customers to join and experience an amazing and easier way while compiles fast solutions, personalized services, and ease of information together. Connected clients: To know more about your customers you need to stay connect with your clients and also it is mandatory to track, manage and save their data. Pivoting cloud technology with the insurance sector has offered a simple gateway to the business to stay connected with their customers and also keep a detailed eye on their past purchase history and other interests.

Technologies transforming insurance industry1

Technologies transforming insurance industry

Present era is completely digitized where consumers demand a fast pace solution for each of their requirements. Almost every business sector is now boosted with the technological growth. In order to retain a competitive edge in every business sector, technological growth and its acceptance by the consumers must be in an exponential manner. Recent technological advancements have played a vital role in development of insurance sector too. It has crafted the insurance sector with more cost effective, customer centric, and enhanced functional excellence. There are a number of technologies responsible for the prominent enhancement of insurance sector and has brought a number of significant changes in it. If you are willing to know more about the technology involved in the insurance industry for its rapid transformation then you have landed on the right page. Let’s get to know more about it. Artificial intelligence: Manual procedures are slower as compared to machine and also the probabilities of errors are comparatively low in machines as compared to humans. The most important and amazing development of artificial intelligence is facial recognition.

Technology and innovation changing insurance sector

Technology and innovation changing insurance sector

nsurtech is a proper blend of innovation and insurance sector. Technologies have a potential to bring a transformation in the insurance sector and also put a great impact on insurance regulatory. Initially technology was incorporated in the finance sector which gradually made a way to insurance sector and now in the current scenario it is acting as the backbone of the industry. Incorporation of technology in the insurance brought great opportunity for end-to-end sector development, data storage and management, fraud detection, automated customer assistance are the major developments with which the world is mesmerized. There are even greater areas of insurance sector which are still working with technology to provide a better solution to its customers, such as transparency of technological use, impacts on policy holders, liberty to choose their rights, and many more. Funding of Insurtech: To introduce new technologies and innovation to any business sector, funding plays the most important role. Talking about insurance sector, venture capital has come up with the maximum opportunities and possibilities of advancements. Fortunately, insurance technology has been benefited by the best and most competitive funding sectors which have provided an amazing platform for insurtech to flourish with a huge number of funding rounds.

Insurance technology trends transforming our future

Insurance technology trends transforming our future

Insurance was one of the technologies which were totally manual based which was dragging the pace of the industry. With the incorporation of technology, insurance sector is becoming automated and also swift. In present era insurance technology is attracting most of the folks and is being one of the most potential tools helping to retain the customers with greater satisfaction. Technological invasion in the insurance sector has made amazing transformation in its each aspect, right from the services till usage. But sweetness comes with a hidden bitter tangs, likely insurance sector also have certain challenges to face before it enjoys the excellence of technology. Comparing to last decade, insurance tech has undergone drastic changes and many are still going on making this industry one of the leading sector. Human intellectual capital: Technology makes the business sector smarter but to operate it you require a smart man force too who are well equipped with the technology and are able to carry the functionalities of technological advancements smoothly.   Of the benefit achieved with the introduction of technology is continuous growth of human resources. Employees working in insurance sectors are availing a chance to learn new aspects of technology and their work sector making them more intelligent and efficient.

Digital Platform & the growth of InsurTech

Digital Platform & the growth of InsurTech

The world is growing towards digital platforms making the work swift and easier. When it comes to make a payment, most of the folks wish to get a “pay on the go” option. If you talk about banking and finance industry, insurance sector is one of the first to enter the world of digital media. It has started responding to the Internet of Things at the very prior state of technological growth. Along with the growth, the sector had to face a number of challenges that includes customer demand satisfaction, competitive market, involvement of mobile usage, and many more. To satisfy all these requirements, digital platforms are serving multiple solutions.  Since past decade, insurance technology has undergone a number of transformations and the journey of changes are still going on with amazing miracles for the folks. The new transformations are enabling innovative IT solutions to serve the customers better. The major change made by the technology in insurance sector is incorporation of digital platform. Now insurance sector is just a click away from folks and the mobile apps are the most robust connecting channels. Basically mobile apps wrap entire services available with the insurance service providers that allows customer to coordinate with the technology and get their required solutions for the application without any manual assistance.

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