Leading think tank of the international insurance industry, The Geneva Association has published a new report that describes how digital and other modern technologies can be harnessed by the insurance industry to narrow insurance protection gaps in mature, and especially in developing insurance markets, by enhancing the awareness, affordability and attractiveness of insurance products and solutions.
• Technology will pave the way for higher insurance penetration by tackling long-standing market inefficiencies such as adverse selection and moral hazard
• Digital transformation of the insurance industry could enable a dramatic reduction in its transaction costs, including claims settlement, acquisition and administration
• Overall, technology will boost the affordability, awareness and appeal of insurance globally
Read the full report:
Or access a brief 4-page summary: