Insurtech 2.0: Evolution, data management, claims and underwriting

March 27, 2024 6:09 AM

Person typing on laptop with screen of charts transposed over their hands

This three-part series on aspects of "Insurtech 2.0" examines what 2.0 means in the timeline of developing insurtech, the potential benefits technology advances can have, and how experts think Insurtech 2.0 should be applied to claims and underwriting functions.

Evolution, not disruption

The idea of "Insurtech 2.0" may be a simple way of defining eras of technology development in the insurance industry, but the reality of insurtech is evolution.

Rooted in data management

AI is likely to play a big part in "Insurtech 2.0," the buzzword for the latest transformative insurtech advances, but experts think changes will be incremental and must be rooted in the right functions, like data management.

What will happen in claims and underwriting?

Experts considering the technology advances that are part of "Insurtech 2.0" want these advances to address claims and underwriting, calling those functions the biggest market or target for its innovation.