3 Trends Shaping the InsurTech Market in 2020

| February 8, 2020

article image
The global InsurTech market is projected to grow by $15.63 billion, during the forecast period 2019-2023, according to Technavio. Market experts predict that the use of Big Data and artificial intelligence will propel growth at a CAGR of about 41%. With digital technologies such as embedded analytics, insurers can understand consumer behavior, market patterns, and make informed decisions. As a result of digitization, companies can improve the functionality of payment and transaction processes. So, if you intend to buy your life insurance on the internet, expect an improved customer experience.

Spotlight

Quincy Mutual Group

Founded in 1851, Quincy Mutual has provided quality products and service to it's policyholders for over one-hundred and sixty years. We are an A+ rated company by A.M. Best, and have held that distinction for over sixty years.

OTHER ARTICLES

What You Need to Know About Coronavirus and Medicare Coverage

Article | March 20, 2020

Medicare Rights now has a flier with information about Medicare coverage and coronavirus.Congress passed legislation (H.R. 6201) that would waive all beneficiary cost sharing for coronavirus testing and the associated doctor’s office visit. The President is expected to sign the bill soon. Early Saturday, March 14, the House passed legislation (H.R. 6201) that would waive all beneficiary cost sharing for coronavirus testing and the associated doctor’s office visit. A Senate vote is expected soon.

Read More

Can AI Solve Health Insurance Fraud?

Article | March 20, 2020

Insurance fraud scams seem to make the news at least every month, as organized criminals seek to exploit the way insurers reimburse clinics, pharmacies and other providers for their services. What’s often shocking is how much money fraudsters can steal from insurers before they’re caught. Recently, in a single month, two separate alleged fraud rings based in California were busted for scams that investigators say netted $20 million or more.

Read More

Top Features of an Effective Claims Management System

Article | March 20, 2020

Claims are a critical part of the insurance business. Even if your insurance company is not as big as Axa or Allianz, you need to have an efficient claims management system. Clients’ mindset and expectations are different from what they were 10 years ago. A recent survey called Insurance 2020: The digital prize — taking customer connections to a new level has brought to light some fascinating facts.

Read More

Do Entrepreneurs Need Business Insurance?

Article | March 20, 2020

Being an entrepreneur is no piece of cake. You are going out on your own, venturing into a new industry and the future is unknown. Many factors will contribute to whether your new business will be a success or not. One of those factors is whether you purchase comprehensive business insurance from the get-go. Below, we will discuss what types of business insurance you should consider as an entrepreneur who is starting your own company.

Read More

Spotlight

Quincy Mutual Group

Founded in 1851, Quincy Mutual has provided quality products and service to it's policyholders for over one-hundred and sixty years. We are an A+ rated company by A.M. Best, and have held that distinction for over sixty years.

Events