Fadata, a provider of software solutions for the insurance industry, highlighted the pivotal role of digitalisation in shaping the future of insurance in 2024. The company identifies three major trends, predicting that the adoption of Cloud services, the integration of AI and analytics applications, and the rise of digital ecosystems will revolutionise the sector. Additionally, the megatrend of sustainability is expected to exert a significant influence. Fadata underscores the industry-wide shift towards the Cloud, particularly the public cloud, as a central theme in modernisation initiatives. Insurers embracing Cloud solutions stand to benefit from enhanced agility, flexibility, cost efficiency, and scalability. The rise of Software as a Service (SaaS) solutions is anticipated to replace on-premises environments, enabling companies to swiftly adapt to market changes and introduce innovative services. Artemis ILS NYC 2024 conference Acknowledging the insurance industry’s increasing reliance on data, Fadata emphasises the crucial role of AI and analytics applications. The advent of generative AI is driving the technical foundation for comprehensive data integration and analysis, providing insurers with vital insights. These solutions empower insurers to better understand customers, identify risks, and offer personalised services. The year 2024 is anticipated to mark a significant uptick in the practical application […]
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