According to Grand View Research, “The global insurtech market size was valued at USD 5.45 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 52.7% from 2023 to 2030.” Take a look at how the InsurTech transition market is expected to grow segment-wise in the U.S. As is...
According to the Market Research Report published by Fortune Business Insights in April 2023 for the base year 2022, “The global big data analytics market size was valued at $271.83 billion in 2022”. Of this, the Banking and Financial Services and Insurance (BFSI) industry holds 23%, one of the biggest chunk. The report further adds,...
A customer’s experience is the single factor that has the biggest impact on their loyalty, highlighting the importance of customer centricity in the insurance sector. According to the State of Connected Customer survey, 84% of customers believe that a company’s customer experience is just as crucial as its goods or services. Despite this, there is...
For decades, underwriting has been seen as another insurance back-office process. Moreover, decision-makers often overlook its significance and influence on the overall business. Although a fraction of total operating cost is spent on underwriting. Still, there is a need to transform it considering its potential to lower the cost of claims. Additionally, life today is...
