Flexible technology platforms, Internet of Things, blockchain and the increased availability of niche third-party data sources are streamlining specialty lines management. (iStock)
Insurance carriers are beginning to take advantage of the potential that digital transformation and advanced data will bring to the P&C insurance industry.
Despite personal insurance lines having been the main focus initially, specialty insurance offers insurers a lot of growth opportunities where they could benefit most from emerging technologies. Flexible technology platforms, Internet of Things (IoT), blockchain and the increased availability of niche third-party data sources are significantly streamlining specialty lines management and improving customer experience.
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