The world is in a fast-changing phase in all aspects which applies to service industries as well.
Customer awareness has increased exponentially due to technological advancements which drive
their expectations from the product/service providers. Manufacturers and service providers are
forced to constantly improve their performances in order to be competitive in the market.
Insurers across the globe are focusing on various technological solutions to improvise their business
processes and customer services, primarily to provide a delightful customer experience throughout
their journey. Those Insurers who are focusing on digital initiatives are enjoying better customer
share as the entire Insurance industry is in its transformation phase. Hence, to be competitive in the
field, Insurers are forced to introduce new technologies, improvised processes, and better customer
services through different technological solutions. Let’s discuss the concept of Life Insurance
Underwriting and the use of Artificial Intelligence in risk assessment.
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