Being one of the oldest industries, Insurance is now perched at the brink of digital disruption. Although a little late to the game, the need to identify new risks and bring to market new products that are based on sophisticated risk modelling and pricing mechanisms is driving the need to embrace technologies like analytics, mobile, IoT and blockchain.
While we now have accurate information about a userâ€™s driving habits, their health patterns and lifestyles â€“ Insurance providers have largely ignored this information till now. But with the advent of IOT and the ability to collect usage data on a real-time basis, there is an upsurge in the adoption of usage based insurance and the underlying platforms that support it. Hence, Insure-Tech is looking to create better and personalized customer experiences to make everything from purchasing policies to claiming insurance as smooth and seamless as possible. In addition, insurers also want to help their agents in selling more, accelerate time to market, optimize risk and reduce the overall cost of claims.
Happiest Minds with its deep technology background and domainÂ expertise provides platforms, services and solutions to ISVs in this domain so they can accelerate the product and technology roadmap, implement better software engineering practices and productize their innovations and ideas by leveraging the latest technologies and platforms.