In the fourth episode of The North Tech webinar series, we are discussing the state-of-the-art of InsurTEch technologies and innovations.
Globally, the insurance market is witnessing a radical shift. The massive transformation ignited by digitalization is now being carried forward by cutting-edge technologies like Artificial Intelligence, Blockchain, IoT, and Smart devices. Changing the way insurance companies operate and enabling them to step up the game to meet the ever-growing consumer demands.
However, the year 2020 has brought many uncertainties for InsurTech companies. The economic slowdown and recent interest rate cuts have changed many industry predictions. On the other hand, social distancing and lockdown measures resulted from the pandemic have led to rapid growth in public adoption of online financial and insurance services.
Maintaining operational resilience is of high priority for InsurTech companies. And they are constantly on the lookout for innovative ways to provide enhanced and cheaper services to customers. As a result, many traditional Insurance companies have realized the importance of integrating InsurTech into their operations. However, there are still several barriers that need to be overcome in order to effectively automate financial services.
In this webinar, we will look at ‘what’s new’ in the InsurTech space and the challenges faced by the InsurTech industry. We will also discuss some creative approaches to overcome these challenges and promote innovation in the fintech space.
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