What is Insurtech?

[nurmohammadkhan]

The term insurtech (therefore, insurance + technology) refers to everything that concerns technological and digital innovation for the insurance sector.

This is an ever-evolving field that has triggered a paradigm shift in traditional business models: from smartphone apps , to IoT , to wearable devices , to blockchain .


But things have changed. In the rest of the article, we focus on colombia whatsapp resource new trends in insurtech , and on the opportunities for players in the sector to seize. We will gather them in 7 key points.



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1. Document dematerialization
The time of dusty archives and folders of paper documents is over. And the reason is very simple: the digital document has enormous advantages over the physical counterpart.

Economic advantages , first of all, related to the production and storage of paper documents.
Time and efficiency advantages : just think about how complex it is to perform a manual search among piles of papers; and how simple it is – on the other hand – to perform a keyword search in a well-indexed digital document.
Then there is the whole aspect of reducing compilation errors , the risk of loss , with the consequent increase in security .

And, so far, we have only considered the most obvious and direct advantages.

But they are not the only ones, far from it.

Thanks to dematerialization , in fact, the management of customer relations changes completely.