The Insurance industry has been a major consumer of computing, since the creation of data processing machines. Today, Big Data, Mobile, and Cloud are redefining the way businesses work in the industry. In the days to come, wearable technology, robots, virtual reality, augmented reality and autonomous driving, will be the drivers for further evolution of the insurance industry. These new technologies are transforming the end-to-end business models for insurance firms. For instance, face-to-face interactions are becoming scarce in the field and online and cross-channel experiences are slowly yet surely gaining prominence. It’s pretty clear that going forward, the stakeholders within the industry will be freed from the manual intensive processes and enjoy a more streamlined workflow. The need of the hour is to get prepared for this change, with the assistance of technology.
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