Benefits of InsurTech Capabilities
Insurance is undergoing a technology renaissance as a wave of emerging InsurTech capabilities begins to make its mark on virtually every aspect of the insurance process. Adopting these InsurTech capabilities stands to benefit insurers in numerous ways. Of all the possible benefits, insurers overwhelmingly agree that developing InsurTech capabilities will help them better meet customers’ evolving demands (75.0%). They also strongly agree that InsurTech capabilities will help them speedily design personalized products (52.7%), improve profitability (44.6%) and improve operational efficiency (40.8%).