Machine learning allows paper files to be quickly scanned, digitized and categorized to create a database to support more personalized insurance plans and better risk assessments. (Photo: MY stock/Shutterstock.com)
Business transformation is driven by a shift to digital and tech developments that have proven to raise efficiency, effectiveness and satisfaction among stakeholders. In fact, according to an executive survey by Accenture, more than 60% of insurers feel technology has had a positive impact on their underwriting processes. An even higher percentage feel it will significantly affect risk management, distribution and finance.
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