What cutting-edge tools are integrated into the insurance value chain via Insurtech?
Answer
Artificial intelligence (AI), big data analytics, blockchain, and the Internet of Things (IoT)
Insurtech involves the integration of AI, big data analytics, blockchain, and IoT to overhaul the traditional insurance value chain.
Related Questions
What cutting-edge tools are integrated into the insurance value chain via Insurtech?What characterizes the current transition phase for the Insurtech sector, known as 'Insurtech 2.0'?According to the text, what is the primary way successful modern Insurtechs operate rather than trying to overthrow the entire system?What specific domain expertise is highly sought after when underwriters transition into Insurtech startups?What role do actuaries fill as a 'bridge' in the Insurtech space?What is a major action item actuaries must undertake concerning technology?How should professionals reframe established expertise like 'analyzing regulatory filings' for a digital role?When founders choose the licensing structure, what is the main consequence of launching as a Managing General Agent (MGA)?What primary advantage do incumbents possess over newer Insurtech players?Which three areas are currently hot spots for investment in Insurtech due to being complex or hard-to-underwrite risks?What mindset shift must actuaries adopt regarding data imperfection when engaging with Insurtech?