Customer expectations are fast evolving as people demand quicker and easier experiences from their insurance carriers. They don't want a quote in hours; they want it in minutes. The moment the customer begins a new interaction, the clock is ticking. Employing technology to meet these rising expectations is a big reason that PropertyCasualty360 named LexisNexis® Risk Solutions one of its inaugural Insurance Innovators for its Telematics OnDemand product.

When it comes to lines of P&C insurance, AdvisorSmith found mortgage guaranty to be the most profitable, followed by inland marine and fire.

An increase in large-scale events and policyholders' expectations to receive information in real-time could dictate wider adoption of insurtech.