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VOL. 10, ISSUE 3 (2025)
Insurtech and Innovation
Authors
J Jacksonvimalan
Abstract
Fintech/financial technology is a subset of insurtech, which is described
as innovative technology used in insurance. Insurtech applications include risk
prevention, fraud detection, claims management, and smart contracts. As
technology advances, we have more opportunities to provide services and to
collect data, which can lead to more effective risk identification and
mitigation. While insurtech regulation will primarily focus on internal
controls and market conduct, the practical impact of these rules must be
closely examined. Consumers and policyholders will be treated fairly through
internal controls that ensure that laws and regulations are obeyed. Due to the
lack of established insurance distribution networks in emerging markets,
technology and innovation may be of greatest importance. The welfare of
policyholders should, however, be protected regardless of whether the industry
is developed or emerging.
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Pages:14-16
How to cite this article:
J Jacksonvimalan "Insurtech and Innovation". International Journal of Academic Research and Development, Vol 10, Issue 3, 2025, Pages 14-16
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