Search
 

InsurTech Center

Commentary

The future of insurtech is straight-through processing

Insurtech has come a long way over the years, but its biggest innovation is still to come.

By Brian Levine | April 13, 2022 at 12:10 AM
Major insurance players like State Farm, Allstate and Nationwide have dedicated funding to acquisitions of insurtech companies and/or investments in insurtech startups. (Photo: Oulaphone/Adobe Stock) Major insurance players like State Farm, Allstate and Nationwide have dedicated funding to acquisitions of insurtech companies and/or investments in insurtech startups. (Photo: Oulaphone/Adobe Stock)

It didn’t take long at all for technology to raise the stakes on insurance providers’ customer experience. Consider this: The ability to file an automotive claim with a smartphone camera, which was the stuff of fantasy not long ago, is now nearly ubiquitous across top carriers.

In today’s marketplace, insurtech providers compete based on their ability to offer a solution that speeds up a customer process that was historically slow: How fast can we process the claim? How quickly can we assess the damage? How quickly can we get an answer?

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.