InsurTech Futures: Use of tech by consumers growing in insurance
EY says that the future use of FinTech in insurance is projected to rise to 55%.
A report into the adoption of FinTech by customers from consultancy EY has found that 24% of insurance consumers are now using FinTech solutions (otherwise known as InsurTech) to transact or communicate with their provider.
The report noted: “According to the study, this has largely been due to the expansion into technologies such as telematics and wearables (helping companies to better predict claim probability) and in particular the inclusion and growth of premium comparison sites.”
EY
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