And you can add another UK company, 360Globalnet, to the list analysing structured and unstructured data to speed up claims processing, allocate expensive fraud detection resources to only those cases that require it and combine self-service Claims Processing on a scalable and secure platform to improve the customer experience and markedly reduce insurance company costs
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Insurance industry Disruptive Innovation
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Insurance is ripe for disruption, and, given the conservative nature of the reigning carriers and large brokers, it is a fair guess that a lot of innovation will come from outside the industry. A few weeks ago, this article touched on how innovation is affecting the financial services industry, but the focus was very much on banking and investing. Today, we aim to expand on this author’s work by focusing on new entrants that are working on disrupting the insurance industry.
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