Emerging Technology in Insurance: AI, Big Data, Chatbots, IoT, RPA, and More

Report Summary

Emerging Technology in Insurance: AI, Big Data, Chatbots, IoT, RPA, and More

January 2021 - Insurers are actively experimenting with emerging technologies like artificial intelligence, big data, chatbots, drones, Internet of Things, low-code/no-code platforms, robotic process automation, smart assistants, telematics, and wearables. Some insurers may be narrowing their innovation focus as they anticipate a leaner 2021. Still, as a whole, the industry is pursuing new technologies that can help them sell more, manage risk better, and cost less to operate.

This report analyzes a study of more than 100 insurer CIO members of the Novarica Insurance Technology Research Council

Key Points and Findings

  • RPA and chatbots continue to expand. These technologies are easy to drop into existing processes and provide clear value, so they’ve been widely adopted over the past several years.
  • Artificial intelligence and big data remain areas of intense activity. Deployment has increased for most capabilities; these remain the most-piloted technologies for 2021.
  • Life insurers narrow pilot focus. Less proven technologies are seeing less experimentation as life insurers balance analytics investments against new priorities for digital experience.

How can we help?

If you have a question specific to your industry, speak with an expert.  Call us today to learn about the benefits of becoming a client.

Talk to an Expert

Receive email updates relevant to you.  Subscribe to entire practices or to selected topics within

Get Email Updates