Insurtech: How Mobile Apps Can Save You on Premiums
| posted in BlogTraditionally, insurance has relied on information asymmetry: The insurance carrier has had the advantage of access to reams of actuarial data which it uses to price policies, while the customer has had the advantage of more intimate knowledge of his or her own particular situation. But new developments in mobile technology, blockchain development and risk management are changing the equation. Innovative insurance technology – or insurtech – companies are developing apps for mobile phones, tablets and desktops that are putting more information into the hands of the customer, and providing them tools to help them lower the premiums they pay…
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