Blockchain is basically a data structure consisting of transactional information and at the same time enhancing transparency, security and de-centralization. It is a type of spreadsheet and a chain of transactional records stored in the form of blocks together making the blockchain and spread over many computers, each of which will have a copy of … Read more
Distribution methods of Insurance products are rapidly changing. This is because of technology changes & consumer change along with it. The vast expansion of internet is causing a major shift in insurance purchase. Insurance distribution is not simply about pushing product but with it brings exotic methods of managing risk. During distribution, relationships and trust … Read more
Internet of things (IoT) is basically a cluster of computing systems and electronic devices each with unique identifiers with ability to transfer data over a network and communicate without any human involvement. As we are witnessing in contemporary times our lives are totally relied on digital mediums and automated devices for survival unknowingly, we are … Read more
Technology is reshaping almost every sector in the economy, and the Indian insurance industry is no exception; It is on the cusp of a significant technological transformation. With India set to make insurance a $280 billion industry, technology has a vital role in enabling this phenomenal, inevitable growth. The insurance industry: Then and now From … Read more
Storage of important Insurance documents only in physical form is unsafe as they are always at the risk of physical damage. One should always have the backup option to safeguard his/her prime documents. It is recommended to keep the documents in electronic form as an option to storing the documents in physical form. Storage of … Read more
Telematics is the combination of words, “telecommunications” & “informatics” & when this term is used in Insurance, it is called as “Telematics Insurance”. Telematics has its application in Motor line of business in Insurance industry. Different terms are used for Telematics in insurance industry; Black Box Insurance GPS Car Insurance Smart Box Insurance Pay-as-you-Drive-Insurance, Usage … Read more