The Future of the Insurance Industry and Risk Management, Business and Industry Trends Analysis

While insurance may seem to some people like a staid and traditional industry of long-standing, it is in fact extremely subject to digital disruption, competition from startups and the evolution of existing practices, just like virtually all other industries.  The largest factors that will drive change in the insurance field include: Online technologies, including the growing convenience and preference by consumers to compare policies and prices online, and then buy directly from the firm with the best offering. The Internet of Things (IoT), GPS, wireless communications and artificial intelligence, enabling insurance companies to use advanced technologies to track the behavior,…

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