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

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AI IS READY TO STREAMLINE THE INSURANCE PROCESS!

The insurance sector depends on loads of data — structured and unstructured, collected from multiple sources including social network, websites, surveys, live chats, third-party sources, customer’s existing insurance policies, and agents.

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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 – A GAME-CHANGER IN ROAD SAFETY

It’s no longer a secret that telematics is one of the biggest game changers in the way insurance industry functions. Telling someone to drive safely is quite meaningless, if without specifics. With telematics, insurance companies can now actually show drivers the way they operate their vehicles and what specifically they should do to improve their driving habits.

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TELEMATICS – DRIVING GROWTH IN AUTO INSURANCE

With the arrival of mobile telematics technology, the auto insurance industry is going through a transformation. Data-driven intelligence is working wonders — customers are no longer being judged on their age or gender.

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Trends to Impact the Casualty Insurance Market

The casualty insurance market is going through a time of intense change. As technological advancements and higher customer engagement redefine the marketplace, insurers remain focused on addressing challenges, increasing top-line sales and improving bottom-line profitability.