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From virtual workforces to automated claims being paid at record speeds and the industry’s first robot, the advancement of digital technology is bringing irreversible changes to the insurance industry.
In 2022, end-user spend on technology and IT services is forecast to hit $255 billion globally, promising greater efficiency, more accurate risk assessments, and better customer experiences. Against the backdrop of new regulations, growing calls for price and value transparency, more demanding customers, and disruptive competition, those investments should be thoughtful, data-driven, and data-informed.
