5 Emerging Trends For Insurance In 2020

 Thursday, November 14, 2019

 Insurance Thought Leadership

When it comes to implementing new technology, the insurance industry is rarely considered an early adopter. However, insurance companies have been taking early strides, somewhat in a migratory manner, to adapt to technology advances to help better run operations, improve underwriting and risk management, enhance customer offerings and services and profitably grow the business.

Taking into account this early progress, we look to 2020 and several trends in the industry that have begun to take shape and will accelerate this coming year:

From RPA to IPA

Whether stemming from insurance carrier frustration that basic robotic process automation (RPA) — bots mimicking human tasks — hasn’t produced savings relative to carrier aspirations, or from insurance carriers’ increased understanding of machine learning (ML) and artificial intelligence (AI) capabilities, the industry will see an increase in “intelligent” process automation (IPA) that is more robust and combines the bot with learning, evaluative and decision-making capabilities for greater impact.
Technology
BROWSE RELATED NEWS ARTICLES

Ned Ryerson And The Future Of Insurance

 Friday, September 6, 2019

 Insurance Thought Leadership

Insurance And The Fourth Industrial Revolution

 Monday, January 7, 2019

 Insurance Thought Leadership

Insurance Industry Employment Trends

 Monday, October 9, 2017

 Insurance Information Institute

Insurance Technology Trends In ’17, Beyond

 Friday, May 5, 2017

 Insurance Thought Leadership

U.S. Homeowners Insurance Trends Show Claims Decreasing

 Tuesday, November 8, 2016

 Live Insurance News

Emerging Technologies Will Transform Insurance Industry

 Thursday, September 24, 2015

 Canadian Underwriter