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Automating claims processing. Automation built on robotic process automation (RPA) and artificial intelligence (AI) have seen a spike in adoption by insurers as many of these manual processes can now be automated with minimal investment and time. (Photo: Shutterstock)

The mature insurance industry was able to withstand most of the macro-economic challenges thrown at it this year. However, they are feeling the stress from savvy InsurTech companies who are introducing new products quickly and identifying new opportunities to engage with customers using the latest digital technology.

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