9 January 2017
The insurance industry is often regarded as being less proactive than the banking industry in leveraging new technology, but many participants have long embraced technology and the use of “big data” in systems and processes. What the industry has not seen a great deal of yet is the much hyped disruptor businesses.
That said 2016 saw a noticeable increase in investment by (re)insurers and third parties in insurtech projects. Technology that was once considered science fiction is fast becoming reality, from driverless cars to medical robots, but innovation can expose new legal and ethical issues which have implications for regulators, manufacturers, distributors and users of this technology.
This briefing takes a high-level look at some of the issues affecting the rapidly evolving world of insurtech.