Hacker Noon – Three insurtech trends we will see more of in 2020

Executive summary :

In today’s digital world, all industries are making a massive shift towards technology to improve their products and services.

Where next for insurtech?

Customers expect their problems to be addressed as fast as possible. And, those companies that can achieve that are going to put themselves in the driver’s seat.

The insurance industry is no exception to this change. And, that’s precisely what insurtech means. It represents the shift more and more insurance companies have made towards technology to improve their efficiency and more accurately assess risks.

The insurance industry has been very traditional since forever. So, the emerging technology has the potential to dramatically change the industry for good. With the world becoming more digital by the day, policyholders and consumer expectations change.

To be more precise, customers now shop for insurance policies online or compare quotes before speaking to an agent. So, since consumers now have the ease of quick access to information, the insurance industry needs to embrace technology more than ever before.

This article outlines three of the biggest insurtech trends that customers and agents can expect to see more of the coming year.

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