How InsurTech improves the claims process. By combining technologies such as artificial intelligence and machine learning with advanced analytics, carriers can reimagine the claims quality audit process. (Photo: Shutterstock)

If insurance coverages were umbrellas, they would remain furled in closets until a claim was filed. While their availability for use would be reassuring to all members of the household, they would sit idly while waiting to spring into action.

It can also be said claims is the point at which an insurance policy and the coverage contained within manifests its value. Until then, an insurance contract is a promise to be present following an insurable event.

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