How AI Can Drive Insurance Sustainability and Profitability
Insurance companies are in a constant battle to stay profitable. The combined ratio, which measures how much insurers spend on claims and expenses compared to premiums collected, has been dangerously close to 100% for years. In 2022, it hit 102.4%, meaning insurers were losing money on underwriting alone. The traditional response? Raise prices and cut […]
Traditional Insurance Needs to Adapt—Or Risk Becoming Obsolete
For decades, the insurance industry has been slow to evolve. While banking, retail, and healthcare have embraced digital transformation, many insurers still rely on outdated legacy systems, manual processes, and rigid policy structures. But the market is changing. Insurtech startups are proving that insurance can be faster, cheaper, and more customer-friendly by leveraging: ✅ AI-driven […]