Hyper-Automation in Insurance: What Does It Mean and What Are Its Upsides?

During these unprecedented times, significant challenges have ascended to the top of the insurance industry’s agenda and left many carriers puzzled about how to navigate the road ahead.

Insurers need to focus on retention of their legacy of data and relationship-based selling while at the same time adjusting to a world with a growing millennial workforce and the rising digital demands that come with that.

To address these challenges, the answer for insurance companies lies in hyper-automation.

From a technology perspective, it’s the continuous integration of automation into business operations using artificial intelligence (AI) and machine learning (ML).

From an insurance perspective, it is the key to businesses remaining viable in an industry that is growing increasingly more competitive.