How mobile applications is automating the insurance operations and driving extensive growth

The new online insurance system allows consumers to view their insurance information quickly. They also drive insurance agents’ productivity by enabling them to close requests faster.

Insurtech, a relatively young sector of finance, is increasingly gaining traction. The market for insurance applications is expected to reach $164.13 billion by 2023, driven by customer desire for easy, rapid, and reasonably priced insurance.

Despite the ongoing COVID-19 outbreak, insurers are generally upbeat about the future of the business and are embracing technology. The idea of insurance app development is to make services customer-centric as the sector grows increasingly reliant on technology.

Here are some of the key stats that demonstrate the rise of insurance management software and applications.

Read more: How mobile application is increasing the insurance industry revenue