Fintech Magazine

How FinTech is Taking the Insurance Industry to New Levels

Forces Compare and Get Indemnity discuss how finteh is taking the insurance industry to new levels

The insurance industry has always been a complicated but firmly rooted environment, but advancements in technology have collided with customer needs, creating systemic challenges for the insurance industry. Mobile players in the industry saw these challenges and introduced customer value with mobile solutions. 

Compelled by the success of FinTech and InsurTech startups, the insurance industry is experiencing a systematic change in business operations. This echoes the transformation that banking industries skilfully made in order to enter the FinTech space. Banks partner with FinTech enterprises to enable operation at lower costs and reduce the reliance on legacy systems.