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Insurance customers continue to want more convenience and speed when making a purchase. (Credit: Sutthiphong/Adobe Stock)Insurance policies have been around since before time, but the insurtech industry only started to take off around 2010.
Regardless of its contemporary genesis, the global insurtech market was valued at $5.45 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 52.7% from 2023 to 2030, according to Grand View Research.
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Closing the gap between insurers and consumers is the essence of insurance humanization.
With policy management core to risk exposure, relying on outdated systems can lead carriers to underperformance and hold carriers back from success.
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Copyright © 2023 ALM Global, LLC. All Rights Reserved.
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InsurTech Center
