Multiple disruptions in the Insurance Sector, reflects report

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According to a report, the insurance industry in the country is undergoing lots of disruptions. And there are projections that it will only go higher in the future.

Disaggregation of the value chain is one of the major factors behind the evolution of business model and operation of insurance companies. This observation was found out by Assocham, an insurance industry body, along with the help of Ashvin Parekh Advisory Services.

As we enter into a world of better and more efficient technologies such as Artificial Intelligence (AI), Machine Learning, Block Chain and Robotic Process Automation (RPA) each of them impacts the insurance industry. Usage of these technologies ensures a much smoother and liner process when it comes to insurance and better user experience.

Expectations of customers is an ever-growing backlog, which the insurers are now beginning to address using the technology at hand. While the primary focus was on ensuring excellent services and acquiring more customers. Usage of technology has boosted up managing of sources as well.

Insurers such as ICICI Lombard, Birla Sun Life, PNB MetLife and HDFC Life have already embraced the new age technologies into either their sales or service departments. All these insurance companies making user experience awesome by using these technologies.

We at easypolicy.com, also using these technologies to make insurance comparison very easy & smooth.

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