By 2025, Generative Artificial Intelligence (GenAI) transformed India’s insurance industry, boosting efficiency in many areas. A recent report from Boston Consulting Group (BCG) shows that insurers using AI in underwriting have improved efficiency by up to 36%. Customer service operations have boosted productivity by over 30%. Claims processing has improved too. Now, 70% of simple … Read more
Nevada faces a serious wildfire risk. Many people are losing their home insurance. This is due to increased fire danger in the state. Lawmakers are taking action to help. These efforts are important to keep homes safe and insured. Nevada’s Growing Home Insurance Crisis Due to Wildfire Risk Wildfires are a growing problem in the … Read more
The insurance industry is changing a lot. It has always been stable and structured, but now things are different. The insurance sector is changing fast. New technology, shifting consumer expectations, and updated regulations are driving this evolution. Even industry veterans couldn’t have foreseen these changes just a few years ago. In this article, we’ll look … Read more
When it comes to securing your family’s health, choosing the right health insurance plan is a critical decision. With the rising cost of healthcare, selecting a plan that covers your family’s needs while fitting your budget can seem daunting. But don’t worry, we’ve got you covered! In this guide, we’ll help you choose the best … Read more
Lately, insurance companies have begun selling policies that set premiums based on how much you use, not just flat rates. Usage-Based Insurance (UBI) is a game-changing idea. It changes how consumers purchase and handle their insurance policies. UBI can save you money, whether you’re a driver, a homeowner, or trying to lower health insurance costs. … Read more
Introduction to the Insurance Industry’s Transformation The insurance industry is often viewed as traditional. It has faced criticism for being slow to adopt new technologies. Historically, it was a field defined by paper documentation, lengthy processes, and complex jargon. However, we are now witnessing a seismic shift in how the insurance world operates. The global … Read more