Impact of Digitalization on the Car Insurance Sector
In today's world, digitalization has touched almost every walk of life. Digitalization has brought massive changes to the insurance industry as well. It has also revolutionised the car insurance industry with automation and digital upheaval. With the rise of Artificial Intelligence, Next-gen data, Blockchain, Cloud computing, Advanced analytics, etc. adopting the new ways of doing business has become a prerequisite to survive in the advanced world. The following points will give you a better understanding of the digital impact on the car insurance sector: Customized services The automobile industry is relatively challenging, and car manufacturers are competing against each other to give the best services to their customers with a choice of personalizing their vehicles. While various new vehicle variants are coming into the market with a customization option. Making a one-size-fit for all insurance policy is becoming difficult. With digitalization, the on-demand, usage-based, custo...