4 Risktech Trends To Watch In 2022

As we usher in a new year, insurers and risk managers alike will continue to focus on exploiting technology advances to prevent and mitigate risk.

The following four trends in the risktech arena will influence risk management moving forward:

1. Risktech will take over a larger share of the overall insurtech phenomenon as investments in optimizing distribution channels, claims processing and underwriting activities start to plateau.

Over the past two decades, insurtech has grown rapidly as the industry has applied new technologies with a focus on improving both capabilities and the customer experience in distribution, underwriting and claims servicing.

While additional improvements can still be made, the markets around these areas have become crowded and the pace of new innovations is slowing. As such, a new focus will gain traction around risktech—those technologies that help to prevent or mitigate the risks themselves.