Jason Sahota provides his thoughts to CIR Magazine on how technology is enabling the insurance industry, the opportunities it presents and how the industry will need to adapt to embrace the challenges that lie ahead. Read the full article below
So what is the outlook for further InsurTech development and how will the industry need to adapt to the related changes, challenges and risks that lie ahead? “There is a second wave coming,” suggests Sahota. “The first wave has not necessarily disrupted the market – certainly not in the commercial space; but it has helped to educate the industry on what is coming. The next wave will come because the insured and ultimately all those within the insurance value chain are so integrated with technology now (personally and professionally) that they need insurance and insurance services to move into the digital era to integrate with their digital mode of operating and lifestyle.