Insurtech platform revenues to approach US5 billion by 2021, driven by machine learning and …

Fintech platform revenues derived from supporting the insurance industry will reach almost US$235 billion globally by 2021, up 34% year-over-year from an estimated US$175 billion this year, according to new findings from Basingstoke, England-based Juniper Research. The research company said in a press release on Monday that growth would be driven by a combination of factors, including: machine learning investments enabling insurance providers to personalize products; insurers deploying mobile apps to improve their customer experience; and investments in blockchain technologies to underpin smart contracts. The new study, titled Fintech Futures: Market Disruption, Leading Innovators & Emerging Opportunities 2016-2021, argued that the value chain in the insurance market is transforming rapidly. This will force traditional providers to improve their offerings and customer service to fend off the threat posed by fintech…


Link to Full Article: Insurtech platform revenues to approach US5 billion by 2021, driven by machine learning and …

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