The surge of Usage-Based Insurance (UBI) can be primarily attributed to advancements in technology. The increased accessibility and accuracy of telematics and IoT enables insurers to collect and assess granular-level data related to individual driving behavior and vehicle usage. Additionally, the growing popularity of the sharing economy plays a significant...
Discover more insightsParametric insurance, an innovative model, leverages technology to measure specific environmental parameters in payout decisions. It has emerged as a pivotal tool in managing risk portfolio, particularly in sectors vulnerable to weather-related risks and natural disasters. The recent years have seen a surge in the market size of such policies...
Discover more insightsParametric insurance has emerged as a key trend within the insurance industry, fuelled by improved data analytics capabilities and the need for streamlined payout processes. Traditional indemnity-based insurance models can be time-consuming and costly in their assessment and claims settlement procedures. These factors drive insurance companies to look at developing...
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