Artificial intelligence, all the rage in popular culture, is not a new fad in the insurance market, where it quietly powers operations that make businesses run more efficiently, at lower costs and with fewer errors.
The non-bank sector now accounts for half of the assets of the entire world financial system and should be more closely regulated to protect its stability, staff economists from the International Monetary Fund said on Tuesday.
The storms of life exist to teach valuable lessons -- literally and figuratively. In the world of insurance, post-catastrophe analysis is crucial for making effective changes in a response plan to continue improving year over year.
While many promises of disruption from insurtechs have fallen flat, now is the time to lean into digital transformation. On the cusp of a potential economic downturn, organizations must continue to adopt advanced solutions that foster quantifiable ROI and impact.