2022 is here, bringing in new hope, direction, and seismic changes in the Insurance industry that are mainly tech-driven. While the overall market crashed in 2020, the value invested in insurance technology companies globally is rising today. In addition, the insurance industry is being driven by predictive analysis, big data, blockchain, and cybersecurity to improve efficiency and accuracy. As a result, dramatic changes are reshaping Insurtech, accelerating the industry. 

As per a report published in Statista, nearly 7.1bn USD value of the capital was invested in insurance companies in H1 2021 globally. In addition, cloud computing and storage, Robotic Process Automation, Digital Channels, Data Privacy, Distributed ledger technologies will see a rise in spending in 2022. As AI becomes deeply integrated with the industry, companies have started positioning themselves to respond to the dramatically changing scenarios and business landscapes. 

From sensor-enabled equipment to wearable data that could potentially report any damage to the carriers, cognitive technologies that are deeply rooted in learning and mimicking human behavior, Insurtech is set to grow by leaps and bounds in the years to come. To bring this change closer to every individual, the leading Insurance Tech companies of the world come together to share their insights, developments, and the changes that will shape the future of Insurance for generations to come. 

In this edition of CIOInsights, we bring you carefully curated strategies from some of the best minds in the Insurance Tech industry. From User-Based Insurance products to traditional purchase and renewal models, these companies have become synonymous with insurance products globally. The Thought-leaders, CIOs, and CXOs in this edition share their crucial insights around Insurance technology and how it will impact us in the long run. We hope you enjoy reading this edition and find the Insurtech partner best suited to your requirement.