What Is Insuretech?

By ABI - October 26th, 2017

Technology has changed the way many industries do business, and the insurance industry is no exception. If you haven’t heard the word “insuretech” yet, it’s only a matter of time before you encounter it.

What Is Insuretech?

A portmanteau of “insurance” and “technology,” insuretech references using technology to make insurance products and services more efficient and cost-effective for both the industry and its consumers.

According to a 2016 PricewaterhouseCoopers report, insuretech represents an opportunity for both traditional insurance firms and insurance-oriented startups to innovate in an industry that has remained largely unchanged over the past century.

As testament to the level of interest in insuretech, the very first conference in Las Vegas in October 2016 was attended by an estimated 1,500 tech entrepreneurs, investors and insurance executives.

According to Andrew G. Simpson, who authored an Insurance Journal article on the conference, “[The conference participants] talked about disrupting every link in the insurance value chain, digging deep to extract costs, improving the customer experience, maximizing transparency, simplifying all processes, lessening friction, empowering and delighting customers, minimizing moral hazard and fraud, employing big data, and even making the claims process pleasurable.”

It may sound like a tall order, but all of these factors are already at play in the insurance industry. As a leading document support service provider, ABI has developed innovative new technology designed to streamline records retrieval, document management and records summation.

ABI: Document Support Service Provider and Technology Innovator

At ABI, we use technology to deliver faster, more efficient and more affordable record retrieval to our customers. Our record retrieval process uses proprietary technology that eliminates the frustration, hassle and delay associated with traditional record retrieval processes.

With our proprietary document management solution, eSummary, we also help our customers free up valuable time and resources by providing them with an intuitive web-based approach to reviewing, analyzing, organizing and summarizing records.

Contact ABI Today to Learn More

Working with a document support service provider can make routine tasks like record retrieval and document review and summation faster and easier. Contact ABI today to learn more.