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Technology presents insurers with many fresh opportunities
Kenya National Congress party leader Peter Kenneth (left) and former two-time Boston Marathon champion Moses Tanui during the opening of Mayfair Insurance Eldoret Branch in Uasin Gishu County on October 12. Mr Kenneth said insurance is about how fast a claim is settled. FILE PHOTO | NMG
Technology has moved to the top of emerging issues ahead of regulation, and if insurers do not innovate, they risk falling behind, analysts say.
And with the rise of the new middle-class and digital natives, this is presenting opportunities for insurers, and using technology, they can better understand their customers and use customer data for more relevant product design and better pricing for risk.
