The Application of Emerging Technology and Blockchain in the Insurance Industry

This book provides a comprehensive guide to the disruptions, innovations, and opportunities that technology provides the insurance sector, offering practical strategies for creating operational effectiveness, managing risk, improving financials, and retaining customers. It emphasizes the importance of embracing technology to remain competitive and take advantage of new opportunities.

Format: Hardback
Length: 200 pages
Publication date: 01 October 2023
Publisher: River Publishers

This comprehensive book serves as a unique guide to the disruptions, innovations, and opportunities that technology brings to the insurance sector, serving as an academic and industry-specific resource for achieving operational effectiveness, managing risk, improving financials, and retaining customers. It encompasses the current philosophy and actionable strategies from a diverse range of experts, providing a logical explanation for why traditional business practices will soon become obsolete and offering an alternative by embracing technology.

Practitioners and students alike will greatly benefit from the support offered in this book for understanding the practical implications of how technology has revolutionized the insurance business, introducing innovative methods for measuring, controlling, and evaluating price risk. By leveraging technology, insurers can effectively reduce operational costs, enhance customer interactions, target potential customers for usage-based insurance offerings, and optimize their overall business operations.

In the ever-evolving landscape of retail and industry giants, digital platforms have become crucial in delivering a satisfying customer experience. Insurance companies must adapt their business models and strategies to remain competitive and seize the opportunities presented by technology. Significant investments are being made by insurance companies in IT and related technologies to improve customer experience and streamline operations. Innovation driven by new technologies is a major force behind change in the financial sector, often accompanied by uncertainty and doubt. This book will play a pivotal role in risk management, encompassing fraud detection, regulatory compliance, and claim settlement, ultimately resulting in customer satisfaction and overall success.

Dimension: 234 x 156 (mm)
ISBN-13: 9788770040068