Digitisation drives efficiency in insurance

Updated: January 8, 2016 2:16 AM

Technology can play a critical role in life insurance right from pricing, to risk management and to consumer interaction.

Technology can play a critical role in life insurance right from pricing, to risk management and to consumer interaction. Life insurers have been slow adopters of the innovations that technology advances offer. Going forward, a Swiss Re report says insurers will have to review their investments in technology, rethink talent strategy and adapt their business models. For instance, data sharing platforms for end consumers will reduce the cost of collecting health information and provide a complete view of customers for more accurate risk assessment and pricing.

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