Technology has been making waves across the insurance value chain, allowing agents and brokers to seamlessly access new products, control user experiences, and offer personalized services to their customers — and that's just on the front end.
Behind the scenes, third-party providers, with a little help from the Internet of Things, have made the underwriting process increasingly data-driven. This has led to smarter pricing and targeting while also making the claims adjudication process far more efficient, according to Bindable CEO and co-founder Bill Suneson. It should come as no surprise that has experienced a rush of capital, with investments reaching more than $10 billion over the past five years.