From telematic devices that track safe driving behavior to artificial intelligence (AI) systems that fully automate the claims process, technology is rapidly reshaping the insurance industry. According to the International Data Corporation (IDC), global insurance spending on AI systems alone will experience a 48% compound annual growth rate from now until 2020. What's more, KPMG predicts that 2018 will be the year when InsurTech moves from proof of concept to production.

Yet as AI, chatbots and other Internet of Things (IoT) devices emerge, many insurance organizations continue to suffer amid outdated, disconnected technology. Agencies and brokerages still rely on spreadsheets, PDFs, "green screen" terminals, fax machines and even paper-filled filing cabinets. In fact, when asked to define "digital transformation" at a recent industry event, nearly 16% of respondents said it means "going paperless."

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