Insurance is entering a time of increasing connectivity, automation and competition, driven by exceptional technological advances and a major shift in customer expectations.
While the term artificial intelligence (AI) has been around for over 50 years, it’s now fast becoming part of our everyday conversation.
With technological advances such as AI comes disruption. Since 2002 52% of the Fortune 500 companies are no longer trading; most are now expected to last no more than another 15-20 years.
With a total of $5bn invested and a 33% rise in annual deal activity in 2016, AI tech has been well and truly thrust into the venture capital spotlight. And insurance-focused AI ventures are getting their fair share of the attention. Of the companies tracked by Tällt, over $1.35bn has been invested into insurance-focused AI startups in the last 5 years.
Our report identifies challenges and opportunities generated through the emergence of AI as a powerful form of technology, faced across the entire insurance value chain.
By drawing on Tällt’s unique intelligence on over 5m tech startups, the report provides the latest investment data, trends and insights into the corporates and new AI ventures altering the status-quo.
We hope you enjoy reading it.