In the InsurTech space we are seeing the innovative use of technology to disrupt and enhance various aspects of the insurance industry, including product development, distribution, underwriting, claims processing, and customer service. Some of the innovations are changing insurance business models. InsurTech has emerged as a potent catalyst for transformation within the insurance sector,

The insurance business, at its core, operates on a solid understanding of applied risk management along with the technology skills required to build upon this understanding. The past several years have seen major new developments in digital technology that have raised customers’ experience expectations and also provided insurers with the means to meet them.

InsurTech and its ecosystem which include adjacent industries to offer higher value enhanced services to insurers and their customers. Some adjacent sectors includes healthcare, agriculture, retail, manufacturers, cybersecurity, transportation, and beyond.

The enrichment of the customer experience and the offerings that can be made to them has been made possible by the adoption of digital technologies that help reach out and better engage with customers. These initiatives help improve in multi-factorial manner like in the claims processing experience and provide more accurate and granular data that allows better tailoring of offerings, pricing and risk assessment, and improved productivity.

How can we help?

Some of the areas in which Sciente Consulting adds immense value and  InsurTech initiatives can experience the impact, are:

• Big Data and Analytics
• Marketing analytics
• Internet of Things
• Artificial Intelligence and Machine Learning
• Cybersecurity
• Mobility and wearable technology

At Sciente, we tailor engagements to meet the unique needs of each client. Contact us and together, let’s collaborate to transform your business in the ever-evolving landscape of InsurTech.