The year 2021 will go down in history as a watershed moment in the evolution of technology in a variety of fields. More than US$10.5 billion was poured into insurtechs globally in the first nine months of 2021 alone, according to the Willis Re Q3 Quarterly Insurtech report, with hopes that this investment trend will continue to expand in the future years.
Several driving forces are combining to propel unprecedented growth in new technology-enabled insurance business models, according to Bolttech. There is no turning back now that the global pandemic has accelerated digital change. Traditional insurance companies have little choice but to form agreements with insurtechs and acquire ecosystem connectedness in this environment.
Digital asset protection will be high
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