Insurance is one of the industries that has tried to keep technological advancements at arm’s length. This has paved the way for agile and tech-driven Insurance Technology companies to successfully penetrated the market space.
Their adaptability and survivability is best seen in the light of Covid-19 and the post-pandemic recovery of various companies in the insurance sector. The impact of the pandemic and subsequent financial crunch has drastically impacted insurance industry trends and customer outlook. Firstly, it has pushed health and wellness to the forefront of customer’s concerns, to which insurers have responded by bolstering their traditional medical and life cover with an array of digital health and wellness products and services. Companies offering solutions for the demand in the healthcare ecosystem will have a better advantage over their competitors.
Traditional setups that were skeptical of outright automation have changed their views as IT integration can aid them in complex decision-making. Solutions offering better flexibility and cost-savings for customers like flat premium revenues and pay-as-you-go insurance services are sure to boom in the 2021 market landscape. These solutions pushing the boundaries of traditional standards would, in addition, make insurance policies increasingly simplistic and straightforward.
To help organizations from the world of insurance select the best technology solutions, we present to you CIO Applications’ “Top 10 Companies Providing Insurance Technology Solutions - 2021.”