The insurance sector currently stands on the precipice of profound changes, especially in the wake of the digitilisation storm. The advent of smart technologies has drastically changed consumer behaviour, which has compelled insurers to replace the traditional operations with advanced insurance methods. For instance, insurers today are heavily utilising machine learning-based predictive analytics to collect a variety of data and analyse them to decipher consumer behaviour. Predictive analytics is even helping insurers to anticipate any upcoming market trends and prepare their claims processes and other deliverables accordingly. Besides, to enhance the user experience, insurance startups are leveraging AI-based underwriting and claims processes that eliminate redundant human participation and improve the quality of data gathered.
Furthermore, to understand customers better and expand their clientele base, insurance enterprises are resorting to social media platforms. From filing claims to requesting quotes to introducing new services, social media is helping insurance companies expand their reach among target customers. In fact, insurance startups are also offering chatbots to help customers navigate through their vast realm of solutions and services.
In order to assist companies in the insurance realm in shoring up their capabilities, we have compiled this issue of Insurance CIO Outlook. In this edition, we have listed the top 5 insurtech startups in UK 2020 to highlight the firms that can help you escalate your chances of success. Equipped with innovative technological capabilities, these enlisted insurtech startups are transforming the insurance landscape at the cloverleaf of various disruptive technologies. Besides, the magazine comprises insights from subject-matter experts, CIOs, and CXOs in the insurance sector on the latest industry trends, best practices, recent innovations, and highlights their expertise. We hope this issue of Insurance CIO Outlook helps you build the partnership you and your organisation need to foster an environment driven by robust and efficient technology.
We present to you Insurance CIO Outlook’s “Top 5 InsurTech Startups in UK - 2020.”
