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The acceleration of the pace of life from the digital revolution puts insurance workflows in stark contrast, with its manual processes, patchwork of poorly coordinated systems and days and weeks to get anything accomplished.  For consumers, everything around dealing with insurance is viewed as a chore, an imposition.Despite ongoing efforts to improve services incrementally and develop extensions and variations on insurance products, the industry seems to have kept its feet…

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The business of insurance is challenging. Highly complex, countless regulations and burdensome reporting, it also requires personalized service to each customer. Recent years have brought new riddles to solve, like commoditization and the digital revolution. For those who can manage these demands, it’s an industry that can be very rewarding. For the past decade consumers started to believe policies differ only by price. This insurance commoditization has been plaguing the…

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 The insurance industry has been undergoing a digital transformation for the past few years. The majority of attention has focused on three areas--the sales process, customer support, and back office workflow efficiencies. A relatively unaddressed area by this revolution is arguably the more important for one, the claims process. Digital transformation of claims is set to become a prime insurer differentiator in 2019. The recent history of increased claims volumes…

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Consumers who have encountered the past crop of smart AI assistants are waiting for better “intelligence” from these AI-enabled platforms. For companies developing digital assistants, the expectations are even more stringent--brands design scripts for customers to follow that seem, to the company at least, like they are intuitive and necessary. Users instead hope the virtual agent will understand their requests and answer in human-like, conversational language and in a meaningful…

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Kitchen table with laptop, mobile phone and coffee cup

Elafris CEO Jake Diner, a Forbes Technology Council member, gives his insights on artificial intelligence and blockchain for insurance. A version of this article was originally published on Forbes.com. The insurance sector has a longstanding reputation for resisting change. Who can blame the industry? Avoiding risk is in their DNA. Surprisingly, in my experience as a Silicon Valley insurtech serial entrepreneur, this characterization may no longer be valid. Since 2010,…

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