Digital Distribution and Sales

Insurtech companies often focus on creating digital platforms and online marketplaces that allow customers to research, compare, purchase, and manage insurance policies easily. This eliminates the need for traditional brick-and-mortar insurance agents or brokers.

Data Analytics and Underwriting

Insurtech uses data analytics and AI to assess risk more accurately and make data-driven underwriting decisions. This can lead to more personalized and cost-effective insurance offerings.

Claims Processing and Management

Automation and AI-driven claims processing can accelerate the claims approval process, reduce fraud, and improve customer satisfaction. Insurtech solutions often include mobile apps for customers to report and track claims.