AI-based insurance tools speed up the process of assessing insurance needs
Trend - AI-based insurance apps and platforms are on the rise as people seek out more convenient ways to buy insurance, and/or receive insurance assessments. These platforms reduce the need for human assessment and aim to offer more fairness and convenience in the process of engaging with insurance companies.
Insight - For many consumers, insurance is seen as a service that's both necessary and difficult to understand or deal with when the time comes to buy or use it. Innovations and brands that are able to make this process easier--whether it's in reducing steps or reducing the number of service members people have to engage with in order to receive insurance.
Insight - For many consumers, insurance is seen as a service that's both necessary and difficult to understand or deal with when the time comes to buy or use it. Innovations and brands that are able to make this process easier--whether it's in reducing steps or reducing the number of service members people have to engage with in order to receive insurance.
Workshop Question - How is your brand streamlining processes to make things easier for customers?
Trend Themes
1. AI-based Insurance - AI-based insurance apps and platforms are on the rise, reducing the need for human assessment and increasing fairness and convenience in the process.
2. Digital Identity Verification - The application of biometrics-powered tools for secure identity verification and authentication is vital for smooth delivery of healthcare, particularly in the digital age.
3. AI-led Insurance - AI-powered technologies have helped insurance companies to offer speedy solutions and reduce inefficiencies in the claims process.
Industry Implications
1. Insurance - Innovations and brands that aim to increase fairness and convenience by leveraging AI and other cutting-edge technologies represent an opportunity for insurance providers.
2. Healthcare - Digital identification platforms that utilize AI and facial recognition have disruptive potential in healthcare sector by enabling authentication of identities as well as security around digital health data.
3. Fintech - AI-led insurance companies and other businesses that offer speedy solutions and reduce inefficiencies in transactions have an opportunity to revolutionize the fintech sector.
