Machine learning and AI are revolutionizing the insurance industry by streamlining the claims process, detecting fraud, improving underwriting processes, and predicting claims....

Machine learning and AI are used in the insurance industry to improve the underwriting process, detect fraud, and improve customer service through chatbots and...

The use of machine learning and AI in the insurance industry is improving the underwriting process by automating data collection and analysis, improving the...

InsurTech refers to the disruption and transformation of the insurance industry by emerging technologies. For instance, insurtechs use big data, machine learning and AI, IoT and telematics and even the latest innovations in biology to disrupt the industry.A variety of startups are disrupting the insurance industry. A set of insurtechs are transforming customer experiences and enabling incumbents improve their business processes. And there are others that are competing fiercely against incumbents with innovative products and new business models. Yet another set of companies are targeting unserved customer niches. To add to the complexity, there are TechFin players that are likely to bundle insurance with the products sold.Failing to learn lessons from the disruption of the banking industry, insurance companies are rather slow to react. With seemingly unlimited funding from VCs and relatively lower regulatory oversight, insurtechs are all set to dominate significant slices of the insurance market.