Library: Eskadenia – Insurtech: understanding the impacts of insurance automation
Executive summary :
Insurance companies, just like all businesses in the information age, rely heavily on information systems.
Whether it is to automate underwriting and claim processing or keep track of their financial transactions, business software brings a lot of benefits to this important financial sector.
Business systems are made to facilitate the work of organisations and make them more productive saving them time, cost, and effort. Insurance companies are no exception.
While fintech describes the use of technology in the financial services, insurtech is the intersection of technology in a specific financial services sector, insurance.
According to Investopedia: “Insurtech refers to the use of technology innovations designed to squeeze out savings and efficiency from the current insurance industry model.”
Technology can be used in a varied number of ways in insurance, but in this article, we will focus on the most common applications of information technology for insurance providers.
We will look at the main business areas of typical insurance firms, regardless the specific line of business, and the relevant business software that can help them do work more efficiently.
See the full report for more…
Link to Full Article:: click here
Link to Source:: click here