As the market for the Insurance Industry grows, a vigorous revitalization of the system is essential, so as to be able to cater to the evolved needs of the clients. The emergence of new businesses offering non-traditional services in the field is forcing the prevalent big players to rethink their strategies and adopt other novel technologies to keep their heads above the water; the appearance of revolutionary technology itself, such as blockchain, is another game-changing factor for the Industry. Expectations are at an all-time high, with an overhauled market structure; the revamped consumer base expects nothing less than the online Four Seasons experience that they are used to from Amazon & other online giants.
Here are a few trends that are expected to take over the Insurance Industry in the next few years:
