Tag: Sentiance

The insurance industry has paid lip service to AI and machine learning for some time. However, adoption has been underwhelming. As firms come under intense pressure to meet changing customer demands, could this instigate more rapid AI adoption?

Customers have raised the bar on the level of service they expect from their insurance provider. Faced with the industry’s historic reputation of working against the customer, insurers and InsurTechs must raise their customer experience game if they are to come out on top.

The Latin American InsurTech ecosystem is in its early stages compared to other regions, which means the market opportunities for insurers and InsurTechs are vast. A middle-class population that is demanding more digital services, coupled with global advances in technology, is creating a perfect storm in enabling growth in the region.

Sentiance, which co-developed the Safer Driver app with the Royal Automobile Club of Western Australia (RAC), has helped reduce distracted driving by nearly 60%.

The InsurTech industry thrived during what was still a very difficult year for many. However, companies have had to adapt to changing market conditions....

With customer demands changing to become more focused on flexibility and personalisation, behavioural analytics is the key to help insurers meet this need.

It is impossible to predict the future and assess where InsurTechs and insurers will be in the coming years. However, insurers will continue to invest in technology as they try to adapt to the new focus on customer experience, according to Sentiance’s Ali Nawab in a new podcast.

Adoption rates of usage-based insurance (UBI) is increasing quickly; however, there are a lot of issues with the current method of measuring this usage, according to Sentiance.