In the past half a decade or so, powered by the increasing penetration of internet and smartphones, technology companies are dramatically disrupting industry after industry. Customers have started expecting the same quality and speed from all service providers, including insurance. Here are the three major developments that have compelled insurers to bring in fresh focus on technology:
Advent of on-demand marketplaces: On-demand technology platforms are vigorously building service infrastructure, optimizing operations, logistics and technology; and customers want similar levels of technology-led service experience from other services as well.
