Sign up and be the first to know

About Hugh Terry & The Digital Insurer

Hugh Terry & The Digital Insurer Video

Contact Us

1 Scotts Road
#24-10 Shaw Centre
Singapore 228208

Write an article

Get in touch with the editor Martin Kornacki

email your ideas at [email protected]

Pre Registration Popup

itcasia2020 Registration Popup

Share Popup

Prime Member: Find out more

Access a unique programme!
  • 56 pre recorded lesson of online content from industry experts over 7 courses
  • The best in digital insurance for practitioners and by practtioners
  • Online MCQ after each lesson
  • Join the discussion forum and make new friends
  • Certificate upon completion to show your expertise and comitment
  • 3 months to complete
  • Normal price US$1,400 Your Prime member price is US$999
  • Access to future versions included in your Prime membership!
Become a member

Prime Member: Contact Us

REach out to us. Please fill up the form below
  • Let us know how we can help. You can expect a response within 24 hours

SONR

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

FINNOVATING

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Library: Insurance News – AI gains traction across insurance

Executive summary :

Spending on artificial intelligence (AI) platforms in insurance will grow by almost a quarter every year out to 2024 as the industry exhibits a general willingness to innovate, analytics firm GlobalData predicts.

 The Digital Insurer reviews insuranceNEWS.com.au’s Report on AI gains traction across insurance

AI will transform IoT offerings

Under pressure

Incumbent insurers are at threat from insurtechs using technology to personalise the insurance experience, and the shift towards digital insurance has been hastened by the COVID-19 pandemic which has necessitated innovation within the insurance industry, GlobalData says.

It forecasts that AI platform sales in the insurance sector will reach $US3.4 billion ($4.39 billion) in 2024 from $US1.2 billion ($1.55 billion) in 2019 – a compound annual growth rate of 23%.

Revenue growth is set to nearly double between 2019 and 2024, which GlobalData says is a clear sign insurers are keen to innovate.

The scope for AI is growing

GlobalData analyst Sophia Patel says AI demand in insurance is no longer limited to basic conversational platforms for customer queries.

“Applications for AI in insurance now span the sector’s value chain – from product development and risk profiling to claims handling,” she said. “As more legacy insurers inevitably move to the cloud, AI platforms, which are more compatible with these operating systems, are certain to see greater traction.”

Insurtechs draw on technologies ranging from AI to the internet of things (IoT) to offer cheaper premiums and customisable policy coverage, disrupting the wider market.

See the full report for more…

Link to Full Article:: click here

Link to Source:: click here

Livefest 2019 Register Popup Event

Livefest 2019 Already Registered Popup Event

Livefest 2019 Join Live Logged-in Not Registered

Livefest 2019 Join Live Not Logged-in