The traditional insurance industry is undergoing a transformative shift with the emergence of insurtech. Enabled by digital technology, insurance carriers are embracing innovative solutions to address challenges posed by complex products, stringent regulations, and evolving customer expectations.

The data-laden nature of the insurance industry makes it ideal for digital reformation. It’s a fact reflected in the huge investments insurance companies across the globe are making in various emerging technologies. To put numbers into perspective, the global insurtech market is projected to surpass $20 billion in 2023. 

This whitepaper explores how insurtech is reshaping the insurance distribution landscape, unlocking a plethora of benefits for insurers and policyholders. Here we will address scalability issues, streamlined workforces, and enhanced customer experiences in insurtech. We will also look at the specific impacts of AI-powered tools, chatbots, and CRM platforms on the end-to-end digital transformation of insurance distribution models.