PCIT PLUSNews and Updates in the Property & Casualty Insurance Industry – A KMG Initiative

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WILL SELF-DRIVING CARS MOVE AUTO INSURERS AWAY?

Automobile manufacturers are taking significant steps towards developing autonomous vehicles. This might see a gigantic decrease in the number of accidents, giving rise to the big question — do we actually need auto insurance if cars are no longer involved in crashes?

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INSURERS USING DIGITIZATION TO THEIR ADVANTAGE!

The insurance industry is going through a significant digital transformation. An upsurge in insurtech investments has shaken the insurance industry to its core.

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ARTIFICIAL INTELLIGENCE MAKING INSURANCE EXPERIENCE BETTER

From managing chronic conditions more efficiently to helping customers choose the right insurance plan, artificial intelligence (AI) is ready to disrupt the health insurance industry. Insurance companies today are using AI in ways not possible a few years ago.

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TELEMATICS – FITBIT FOR YOUR CAR!

Over the years, automobiles have evolved tremendously. Yet the auto insurance has been slow to follow suit. It’s only in recent years that insurers have embraced technology. Insurance companies have been rapidly adopting telematics to improve the accuracy of insurance claims.

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TECHNOLOGY – CHANGING THE WAY WE BUY INSURANCE!

Do you still remember the comic science fiction cartoon “The Jetsons”, made in the 1960s and 1980s? This show made all sorts of predictions about the distant future – jetpacks and traffic jams on the skyways; but skipped over the question of insurance.

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INSURANCE COMPANIES CAPITALIZING ON VOICE TECHNOLOGY!

Insurance is among the oldest industries, yet it has always been slow to adopt new technology and, hence, lagged behind others in digital maturity. But the rapid adoption of voice-enabled devices is sure to transform the insurance industry.