Five Insurance Technology Trends We All Need to Watch

Five Insurance Technology Trends We All Need to Watch

Technology is changing the insurance industry  —  for better and worse. Are companies ready for drones, cloud computing and the other apps, hardware and software bound to shake the sector? Have a look at this quick-hit infographic: top tech trends insurers need to note.

  1. 1. Drones

    Armed with a video camera, a drone can be flown above a property to get a bird’s-eye view — excellent for inspecting roof damage. Drones are allowed to fly only to a certain height to avoid potential collisions with other aircraft.

  2. 2. Cloud Computing

    It’s more cost-effective than buying servers outright. Companies access high-powered computers on demand — and on budget. Many insurers are starting to investigate cloud computing to save costs and improve tech agility.

  3. 3. The Internet of Things

    IoT for short, this is the network of smart watches, personal fitness trackers and other items with their own Internet connections. Many insurers offer to install such devices in clients’ cars to report on driving habits, so the insurers can offer safe-motoring discounts.

  4. 4. Big Data

    This large-scale analysis of business information helps companies identify trends in customer behavior and market changes. Big data is an important tool for the information-focused insurance industry.

  5. 5. Digital Customer Relationship Management

    Clients increasingly use social media and mobile technologies to communicate. Insurers are following suit, populating Facebook, Twitter and other platforms to connect with the world.