SMA’s recent report, Emerging Tech in Commercial Lines: Ramping Up Adoption, covers eight emerging technologies that hold great promise for commercial lines organizations.
The core system of the future will address a variety of decision-making needs, allowing employees to focus on strategic work versus more administrative tasks, driving better outcomes for insurers and policyholders alike.
As insurers struggle to replace retiring professionals, outsourcing data management can provide access to AI and other kinds of technology-driven automation.
Reporting live from InsureTech Connect in Las Vegas, SMA’s Mark Breading interprets the stunning success of the show and gauges the status of the InsurTech movement.
Some of the largest insurers are using end-to-end drone solutions, intelligence tools and detailed plans for deployment in order to get ahead of storms like Florence and streamline the claims process.
Claimants’ desire to connect with a person who can reassure them that they will be made whole again is unlikely to go away, but technology can inject new efficiencies into human processes.
Despite more than two decades of experience, the impact has not been fully felt—the continuing adaptation of the industry to the Internet will dwarf the impact of any other emerging technology.
Insurers should consider an enterprise location strategy as an important element of their overall business strategy.
Recent tests by The Insurance Institute for Highway Safety on two key ADAS capabilities cast doubt on the efficacy of these technologies and thus on how soon full autonomy is likely to affect auto insurance premium.
While blockchain is still in the experimental stage in insurance, Gartner predicts the global business value from the technology will begin growing significantly after 2020 and accelerate to $3.2 trillion by 2030.