Introduction to InsurTech Course Overview
InsurTech, or insurance technology, is disrupting the traditional insurance industry by leveraging technology to make the insurance process more efficient and cost-effective. In this course, we’ll first define what InsurTech is and its importance before exploring the history and evolution of insurance distribution. We’ll then identify the main areas of InsurTech, guided by technological and economic trends, and how they differ from traditional practices. Next, we’ll examine some of the InsurTech innovations that are impacting pricing, underwriting, and claims, including data science, telematics, drones, and robotics. We’ll also look at important metrics such as frequency, severity, loss ratio, and combined ratio. Finally, we’ll explore the future of InsurTech, including embedded insurance, changing customer expectations, and diversifying risk through new products and services.
Introduction to InsurTech Learning Objectives
Upon completing this course, you will be able to:
- Define what InsurTech is and its importance
- Explain the history and evolution of insurance
- Identify the main areas in InsurTech and how they differ from traditional practices
- Identify InsurTech innovations and impact to pricing, underwriting, and claims
- Explain the future of InsurTech
Who Should Take This Course?
This is a beginner-level course suitable for insurance professionals, data analysts, and aspiring entrepreneurs who are interested in leveraging technology to transform the traditional insurance industry.