Nowadays, everyone needs insurance but not all get excited to get one due to policies that are difficult to comprehend, low levels of trust and more. To resolve these issues and make insurance user-friendly, several startups have mushroomed across the world. These startups are involved in developing easy to understand policies that are simple and user-friendly.
The fresh crop of insurtech startups is leveraging technological advancements by using blockchain, machine learning and other revolutionary technologies that are in the boom. These technologies are used to streamline their product lines and are passed on the customers to create an ecosystem of more efficient policies and services.