It’s not just loT any longer, but Internet of Everything. And AI? It’s quickly catching up with human intelligence. Big data makes it obvious that structured data and actuarial analysis are not enough. Technology has changed every aspect of insurance – distribution, underwriting, customer service and claims assessment – so fundamentally that unless you act now, you won’t be competitive in just the next year.
Insurers all over the world are experimenting with new technology, but very few actually have a game plan. While few insurers were wasting millions on replacing core systems, we have already helped few others reduce loss ratio drastically on an insignificant budget.
Because how is it a revolution if it’s slow?
70% reduction in underwriting time
3 to 5% reduction in NCOR by 24 months
15-25% increase in underwriting profit
3 Months to complete deployment
10x more data in 1/10th of time