Technology has disrupted many industries, but what benefits (or challenges) is the rise of insurtech bringing to the insurance space?
Like many areas of financial services, insurance is experiencing a surge in digitalisation. New offerings intuitively using technology - called insurtech - are now transforming the way people access insurance products. The global insurtech market is forecast to grow by $21.7 billion by 2024. Critics may dismiss this kind of digital surge as all-hype, but it is bringing real change to the insurance industry, according to David Vanek, the chief executive and founder of fully automated life insurance...
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