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The insurance industry has long been known for its traditional, risk-averse nature, but the emergence of technology has brought about significant changes in recent years. A new wave of innovation known as “insurtech” has evolved, which refers to using technology to enhance and streamline insurance services. These companies are disrupting the traditional insurance market with new business models, products, and services, and use technology like big data, artificial intelligence, and machine learning to provide specialized and effective insurance solutions. The insurance industry has benefited from technological advancements, as it has enabled them to offer their clients a user-friendly and practical digital experience.
