Insurtech: Digitizing Head, Health, Hands and Heart

Paul Schulte and David Kuo Chuen Lee

Chapter 13 in AI & Quantum Computing for Finance & Insurance:Fortunes and Challenges for China and America, 2019, pp 371-406 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The following sections are included:IntroductionWhy This Massive Shift is Happening: Millennials are a Different Species Than BoomersMillennials: Individual, Diversed, ToughenedSummary Comparison: Homo Digitalis (Millennial) vs Homo Papyrus (Boomer)Implications for Insurance ProductsHow This Massive Shift is Happening: He Who is Flexible and Controls the Data Will WinFive Ways to Understand the Customer in the New World of DataHow Insurance Companies Can Restructure Their Process by Analysis of Business LinesThe New Foundation of Data: Blockchain and the Challenge to InsuranceA Significant Change in Products and Processes is Needed NowProducts Will Bleed into Each Other

Keywords: Financial; Lizard Brain; AI; USA; China; Banking; Insurance; Cloud; Quantum Computing; Insurtech; FinTech; Blockchain; Data Analytic; Singapore; Technology; Alibaba; Ping An; Tencent; Baidu; Zhong An; Softbank; Amazon; Google; Apple; Facebook; Microsoft (search for similar items in EconPapers)
JEL-codes: G20 O33 (search for similar items in EconPapers)
Date: 2019
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