The report, which surveyed insurance companies and their customers, found more than 60 percent of insurance executives believe insurtech solutions, or technologies that help improve insurance, are very important. These emerging technologies include AI, connected devices and robotic process automation, among others.
What’s more, over 40 percent of the insurance industry expects to invest in AI, robo-advisors and blockchain over the next three years.
Here’s how 100 global insurance industry leaders responded when asked to select which emerging technologies represent the biggest priorities to the insurance industry.
1. Advanced analytics: 82.8 percent of insurance executives
2. Connected devices: 72.4 percent
3. AI: 69 percent
4. RPA: 63.2 percent
5. Robo-advisors: 27.6 percent
6. Blockchain: 18.4 percent
7. Drones: 5.7 percent
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