Quarterly insights: Enterprise productivity
Ensuring a better insurance market with InsurTech
The insurance industry historically has been characterized by manual processes, large agent-based sales forces, and slow, arbitrary and contentious claims processing. Increasingly, industry participants are using technology to automate the business. Myriad technology solutions add value for carriers, brokers, and insureds by improving underwriting efficiency, product quality, and claims processing speed and accuracy and by reducing insurance portfolio risk. We group these solutions into four categories based on their primary focuses: sales and underwriting, policy administration, claims processing, and risk management, and we highlight some of the interesting technology providers in each group. We also provide an overview of enterprise productivity publicly traded stock performance and valuation, sector M&A activity, and private placements during the quarter.