{"id":14655,"date":"2021-04-27T00:00:00","date_gmt":"2021-04-27T00:00:00","guid":{"rendered":"https:\/\/cms.alj3.clients.lemonhq.io\/perspectives\/%e6%9c%aa%e6%9d%a5%e3%81%ab%e3%81%8b%e3%81%91%e3%82%8b%e4%bf%9d%e9%99%ba\/"},"modified":"2026-05-13T07:46:46","modified_gmt":"2026-05-13T07:46:46","slug":"%e6%9c%aa%e6%9d%a5%e3%81%ab%e3%81%8b%e3%81%91%e3%82%8b%e4%bf%9d%e9%99%ba","status":"publish","type":"perspectives","link":"https:\/\/cms.alj3.clients.lemonhq.io\/ja\/perspectives\/%e6%9c%aa%e6%9d%a5%e3%81%ab%e3%81%8b%e3%81%91%e3%82%8b%e4%bf%9d%e9%99%ba\/","title":{"rendered":"\u672a\u6765\u306b\u304b\u3051\u308b\u4fdd\u967a"},"content":{"rendered":"

Insurance technology \u2013 or \u2018insurtech\u2019 – has already transformed the global insurance industry. \u00a0And it is still evolving, with billions being invested in 2020, by insurers, start-ups, venture capitalists, development banks and government-backed innovation funds.\u00a0 So, what exactly is insurtech and what are the challenges and opportunities it presents for the insurance industry?<\/h4>\n

The insurance sector has been transformed and empowered over the past decade by the democracy of data, and its truly global reach. \u00a0The proliferation of affordable smartphones and a reliable 4G\/5G signal has created a customer base numbering in the billions. \u00a0For the first time in history, a tenant farmer in Kenya or a truck driver in Kansas can obtain bespoke insurance cover, often on a pay-as-you-go basis (PAYG), that is exactly matched to their lifestyle and needs.<\/p>\n

The old systems of paper-based policy documents, admin charges for mid-term adjustments, local brokers selling annual policies on commission and so on, are being rapidly replaced by a digital market \u2013 and ecosystem \u2013 where brand power, trust and consumer rewards are just as important as price.<\/p>\n

These changes are largely being driven by insurtech innovations facilitated by rapidly evolving advanced technologies, in particular AI and big data, blockchain, APIs (Application Programming Interface) and ever expanding 5G networks.<\/p>\n

AI and big data are powerful tools when it comes to defining risk, which in turn leads to pricing insurance correctly in different markets. \u00a0They facilitate a faster claims processes, thereby reducing costs and speeding up payments. \u00a0They can also help to eliminate gender or racial bias from the insurance process, so the price of cover is not inadvertently influenced by gender, age, income, ethnic make-up of geo-locations, or other historical biases common in legacy systems.\u00a0 Blockchain is proving useful for compliance, among other things, as time-stamped records of payments, or policy incept dates are crucial, while APIs enable insurtechs to connect consumers with every link in the policy chain, like a digital central nervous system. \u00a05G provides the infrastructure for new models of interaction between providers and consumers. \u00a0<\/p>\n

In short, smarter, more personalized use of data, as well as an ever-increasing dataflow from multiple devices and sources, is enabling insurtech to completely transform the insurance industry.\u00a0\u00a0 With no legacy products, processes, or IT systems to constrain them, they are able to design new digital processes, products, and systems from the ground up. \u00a0They can use the latest technology to target particular specific market segments, rather than trying to provide end-to-end solutions, using their digital expertise to maximize value by leveraging characteristics such as:<\/p>\n