The wave of innovation is growing in the insurance sector with the help of the regulatory stimulus to the so-called “insurtechs” – a promise, among other things, to shorten the long and full of red tape process to pay damages. Several products are supposed to use artificial intelligence to validate claims, sometimes in real time. Many insurances will be bought on demand, “like a Netflix coverage,” says Rodrigo Ventura, CEO of 88i, one of the 11 companies selected by regulator Susep to test the new system. Intermittent insurance will be also offered, and, in the future, it will cover risks that are not currently accepted, such as pandemics.
Source: Valor International