Today’s digital insurance platforms are headed towards making insurance personalised at an individual level. To achieve this ideal state profitably, the insurance compaines are looking at taking advantage of data-driven underwriting and entirely digitising the buy, claims processing and customer support experience for digital first customers.

Let us now dive in the latest InsurTech trends in Indian Digital Business Transformation of 2024

Feb 2024

Data-Driven Underwriting

Advanced analytics and IoT data are essential insurtech aspects for more accurate risk assessment and personalized insurance pricing.

Telematics and usage-based insurance

Telematics is used in insurtech to collect and analyze real-time data from connected devices such as GPS trackers and sensors in vehicles. This data enables usage-based insurance premium for an individual’s or a driver’s behavior and driving habits.

Data-driven realtime policy pricing

Real-time data from connected devices is revolutionising insurance premiums tailored to individual’s behavior.

Predictive analytics in insurance

Analyzing historical data, customer information, and external factors to determine the likelihood of future claims

IoT devices for risk assessment

Wearable Health Devices & several other IoT based remote monitoring devices help insurers with assessing risk exposure.

Jan 2024

Claims Processing and Customer Support

Enhances the insurtech experience, ensuring prompt assistance in times of need.

Claims automation & realtime tracking

Insurtech relies on automation and AI-driven chatbots for efficient and responsive service.

AI-driven chatbots

Provide efficient and personalized customer support through automated conversations powered by artificial intelligence.

Virtual insurance agents

Employ AI and chatbot technology to provide efficient and scalabe customer support to provide remote assistance for various insurance services.

Automated processing

Automated processing streamlines claims, underwriting, and document management for increased efficiency, accuracy and reduced turn around time.

Dec 2023

Digital Insurance Platforms


Streamline policy management, claims processing, and customer interactions through online and mobile channels.

Paperless application processes

Digital transactions by eliminating the need for physical paperwork, enhancing efficiency and sustainability.

Customer data integration

Amalgamation of diverse customer information into a unified, comprehensive view for enhanced insights and personalized service.

Instant policy issuance

Policy issuanced by means of streamlined insurance process, providing coverage immediately upon approval without human any intervention.

API-driven insurance

APIs help insurers stay compliant with constantly changing regulatory requirements by automating reporting and data management.

Nov 2023

Personalized Insurance

Insurance coverage tailored to individual needs, offering custom benefits for enhanced protection needs.

Health-tech integration

Enhanced policy customization and claims processing through real-time health data analysis.

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