New technology advances are changing the insurance industry. Although these disruptions hold promise for a more customer-focused insurance industry, they raise security, regulatory and privacy issues. Such concerns include what rights each of the parties have with respect to the raw, aggregated, and processed data; what uses should be permissible; and under what circumstances.

Despite these concerns, these advancements offer the opportunity for making insurance more personal, including its price, and could drive the demand for new forms of insurance. An example is the introduction of networked smart sensors and artificial intelligence (AI) which, among other things, can measure fitness and certain indicators on homes and driving, creating data that enable better ways to measure risk, settle claims, and price policies by usage and user behavior.

Insurance companies are already partnering with and investing in innovation labs and digital start-ups to better understand and address these new opportunities. Additional benefits can be formed by taking steps to be more adaptive, and by creating an industry dialogue and quality management that addresses privacy, security, and regulatory concerns.

Over the years, CHEQ has served the quality management needs of Insurance companies with regards to their digital solutions and technology upgrades. We understand the technology, the stakeholders and the current landscape of Insurtech, and the strategies needed to implement a robust quality management plan.

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Take advantage of our practical testing methodologies and expertise. You can immediately reach us thru the contact information below.

Unit 1708, 88 Corporate Center, Sedeño cor Valero St., Salcedo Village, Bel-Air 1227 City of Makati NCR, 4th District Philippines

  +63 2 8888 CHEQ(2437)

You may also reach us by simply filling-in the contact form here.

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