Insuretech continues to thrive in 2024, with 300 startups innovating across underwriting, claims, customer service, and risk analytics. Generative AI and large language models are being widely adopted, especially for streamlining operations and enhancing user experience. Startups are also focusing on climate risk analytics, customer and agent digital experiences, and the integration of IoT and telematics in auto insurance. Data analytics, including intelligent document processing, is expanding insurers’ ability to manage back-end processes efficiently. These trends highlight insuretech’s growing role as a strategic partner for insurers seeking agility and modernization.

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