The Insurance industry is full speed ahead with their digital and data transformations. The impact of being truly data driven along with changing customer expectations are redefining the industry. The key to stay ahead in this competitive market is to have goals that embrace the latest digital and data practices, algorithms and technologies. Early adaptors can flourish if they move swiftly and embrace the changing environment.
Businesses require special types of insurance policies that insure against specific types of risks faced by a particular business. For example, a fast food restaurant needs a policy that covers damage or injury that occurs as a result of cooking with a deep fryer. An auto dealer is not subject to this type of risk but does require coverage for damage or injury that could occur during test drives.