Insurers will spend US$634 million on Robotic Process Automation solutions by 2024, rising from US$184 million in 2019 – a 245% increase over the next five years, according to a newly released report.
Australian-listed data collaboration company Ixup has partnered with actuarial and analytics consulting firm Finity to launch a new technology and analytics platform designed for insurers, regulators and industry deploying next generation analytics.
Blockchain technololgy could turn the insurance industry on its head and, due to its auditability and reliability, is making it easier for insurers to offer higher quality, more efficient services with lower overheads and greater accuracy, according to a new report.
Telstra is selling most of its stake in Chinese car sales website Autohome to one of China’s largest insurers, Ping An Insurance Group, for A$2.1 billion (US$1.6bn).
There has been strong growth and increased investment in IT by the insurance industry worldwide, with digital channels remaining the top area for investment by insurers.
New Zealand-based, global online accounting software company Xero is shouting from the rooftops about its performance in the Australian market, claiming an ‘explosion’ in customer numbers to 147,000 businesses using its software, up from 109,000 in March.
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