For Emerging Technologies, Insurers Should Keep Use Cases and Value in Mind

MATTHEW JOSEFOWICZ | January 23, 2020 | 220 views

As the new decade dawns, insurers are focusing more heavily on technology that can help them sell more, manage risk better, and cost less to operate. Novarica tracks insurers’ interest, pilot activity, and deployment of 16 key technologies in our annual Emerging Technology in Insurance report, which has been newly updated for 2020. This report covers technologies from big data to blockchain at their varying stages of maturity using data provided by more than 100 property/casualty and life/annuity insurers.

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Tower Insurance

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Insurance Technology

How InsurTech-Insurance Partnership Delivers New Product Innovations

Article | July 14, 2022

In 2019, InsurTech funding reached $6 billion, acknowledging the pace that technology can bring to overcome the age-old Insurance problems, the State of AI in Insurance 2020 says. While Incumbents are known for their core competencies in end-to-end insurance processes (from underwriting to claims settlement and reinsurance), InsurTechs are enticing millennials with fully digital innovative products and solutions.

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Core Insurance, Risk Management

The role of AI in enhancing claims experience for Insurance customers

Article | August 4, 2022

Insurance customers are most vulnerable when they file a claim. Be it life or general insurance, claims are filed in distress. This is also a critical moment for Insurers. The claims experience they deliver determines customer loyalty, which also influences referral customers in the long run. In the Insurance industry, where products and pricing among the competitors are almost the same, customer experience becomes the main differentiator.

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Insurance Technology

5 Deep Learning Use Cases for the Insurance Industry

Article | July 13, 2022

In 2010, with the launch of the Image Net Competition, a vast dataset of about 14 million labeled images was made open-source to inspire the development of cutting-edge image classifiers. This was when Deep Learning technology got it’s a real breakthrough and since then there’s been no looking back for advancements in this field.

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DOES YOUR INSURANCE COMPANY ACTUALLY NEED BLOCKCHAIN RIGHT NOW?

Article | February 10, 2020

Blockchain has great potential to create value for insurance organizations. But these are the three questions to ask before you make the investment. In my last post, I spoke about why teamwork is the key to unlocking blockchain’s true value. Today I want to talk about the key things to consider before pulling the trigger on investing in blockchain. Not because I want to deter you, but because it might not be the right solution for you at this time.

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Tower Insurance

We're Tower Insurance; we're kiwi, we're passionate about what we do and we're all about helping New Zealanders protect the things they value through simple and easy insurance.

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