InsurTech’s Impact on Commercial Insurance

In 2024, companies known as InsurTech in the insurance sector will be key to the development of the industry, where the intersection between technology and insurance not only adds value to traditional practices, but also reshapes the way insurers can approach their potential customers and the way they design their own products. That is why today we talk about the crucial role of these companies in the insurance sector in the coming years.

1. Definition of InsurTech

In essence, InsurTech is the merger of technology and insurance, a union that promises to bring value to the way risks are assessed, policies are underwritten, and claims are processed. This dynamic field leverages innovative technologies such as artificial intelligence, open data, and data analytics to improve and streamline various aspects of the insurance ecosystem.

2. Key InsurTech Role in Commercial Insurance

These are companies that, rather than trying to completely transform insurance business lines, focus on enabling or extending the insurance value chain. Insurers should view InsurTech not as competitors to be feared, but as potential partners that... Continue here