InsurTech will change the way insurance is distributed, underwritten and processed.

Underwriting and processing automation is well under way and the positive impacts are evident. The use of InsurTech initiatives are prevalent in commodity-based products such as automobile or renters' insurance.

The more complex coverages have not as yet been disrupted, largely because they are complex and the consumer needs an independent insurance advisor. Noting this, new InsurTech initiatives in the distribution sector will focus on how to deliver products from the insurer to the agent in a smarter, more direct manner.

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