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Digitisation cannot be reactive

To truly unlock the digital potential, insurers need sustained investment in innovation and new-age technologies like machine learning, data modelling, and artificial intelligence

Insurance
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Neelesh Garg
If you have recently purchased an insurance product, you might have been pleasantly surprised by how much smoother and quicker the process is now, compared to how it was a few years back.

It is now possible to purchase an insurance policy over your mobile phone in a few minutes, without ever talking to anyone. Right from seamless customer on-boarding to filing claims online, to using big data to understand the customer and the risk better, technology is now embedded in all stages of an insurance policy lifecycle. User-interfaces are getting more intuitive, be it a website, mobile app or chatbot,
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper