Insurance Technology

Insurance Technology, often called Insurtech, refers to the use of digital tools and innovations to improve how insurance companies operate and serve customers. It includes things like online quotes, digital claims processing, data analytics to assess risk, and advanced algorithms that personalize policies. Insurtech aims to make buying, managing, and claiming insurance faster, more transparent, and more convenient for consumers while helping insurers reduce costs and better understand risks. Essentially, it’s the application of technology to enhance all aspects of the insurance industry.