The Insurance Industry is Leading the Way in Innovation.

The insurance industry has been around for over 300 years, but until recently, the industry lacked innovation. Now, decision-makers are starting to adopt innovations in the industry. One example is how telematics has allowed insurers to assess real risk by observing driver behavior, instead of just relying on age or demographics. In doing so, it helps to reduce the frequency and severity of insurance claims, which is beneficial for both commercial and personal insurance lines. To keep up with the competition, it's essential that the industry adapts and embraces technology that aligns with digital-savvy generations. To do so, partnering with an innovation agency with skilled consultants can help in developing innovation and help with a clear mission statement.