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Big data analytics in the insurance industry is hardly news. The sector was one of the first major finance players to tap into the potential of information technologies, and it remains true to its original course. After all, what insurance providers do is they assess risks and hedge against financial losses. That requires a lot…
Insurance has always been a thing. But insurtech? It emerged only in 2010 when Friendsurance created the first peer-to-peer business insurance model. Nevertheless, in 2021, the global insurtech market size was already valued at $3.85 billion. Impressive enough, huh? But wait for it: from 2022 to 2030, analysts expect for the market to expand at…
According to Amara’s Law, the effect of technology is usually overestimated in the short term, but in the long term, it is underestimated. Meanwhile, insurers are becoming more dependent on innovations and technologies for efficiency, security, and expanded capabilities. So, how can you define which insurance trends are the best for 2024? And which of…
If fintech product development were a parent, it could be a proud one: neobanks, its children that first saw the light became known in the early 2010s, today are among the most famous stars of the IT universe. There are over 200 neobanks worldwide, but the hunger for more will always be a part of…
The last decade has become a strong momentum for the insurance industry. Just ten years ago, insurance digital transformation challenges seemed to be something like file backups support with a new server. While today, service-oriented architectures open the way for innovative data-driven solutions and empower the shift to new digital prospects for insurers. However, this…