How is technology changing insurance?

Technology is revolutionizing the insurance industry in several ways. Firstly, advancements in artificial intelligence (AI), machine learning, and data analytics enable insurers to analyse vast amounts of data to assess risks more accurately, personalize policies, and detect fraudulent activities. Secondly, digital platforms and mobile apps empower customers to interact with insurers conveniently, from purchasing policies to filing claims and accessing support services. Additionally, blockchain technology holds promise for enhancing transparency, security, and efficiency in areas such as claims management and policy issuance.