Technology bringing more assurance to insurance industry

ASIA'S insurance industry has grown in recent years as consumers become increasingly risk averse. But the insurance industry has always suffered some image problems, being perceived in a less-than-favourable light and having a somewhat estranged relationship with its customers. This has meant that insurance firms have to become more customer focused and improve communication across all channels.

Singapore-based insurance companies and their customers are no different. Last year, Gartner found insurers in Singapore on pace to spend S$195 million on software, an increase of 10.8 per cent from 2014.

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