Today, insurers face pressures on multiple fronts: intensifying competition, escalating risks, and daunting regulations. Yikes! The top insurers have a secret, though. They’re turning to automation to drive down operational costs, and they’re putting automation at the center of their operating model.

Why is it so crucial for insurers to arm themselves with the most modern tech stack? Well, the whole insurance industry is changing. McKinsey predicts that over half of claims activities will be automated by 2030. Meanwhile, Bain says automation and related technologies will usher in 50% lower operating expenses for insurance companies.