Impact of Digitalization on the Life Insurance Industry

Author(s)	Mr. Hemant Kumar
Country	India
Abstract	Insurance companies are focusing more on digital transformation as it becomes more crucial in today's market. It presents chances and difficulties, especially for IT departments, which are vital in supporting or impeding advancement. The objective of this paper is to offer a detailed explanation of how digital technologies, including artificial intelligence and cloud computing, are used in the insurance sector. We examined scholarly articles, industry reports, and regulatory publications to collect information. We found the IT needs of insurers and uncovered numerous relationships among various digital technologies. Our results emphasize the importance of insurers implementing a thorough digital strategy to successfully utilize these technologies.
Keywords	Digitalization, Life Insurance, technology
Field	Mathematics > Economy / Commerce
Published In	Volume 6, Issue 3, May-June 2024
Published On	2024-06-23
Cite This	Impact of Digitalization on the Life Insurance Industry - Mr. Hemant Kumar - IJFMR Volume 6, Issue 3, May-June 2024. DOI 10.36948/ijfmr.2024.v06i03.23179
DOI	https://doi.org/10.36948/ijfmr.2024.v06i03.23179
Short DOI	https://doi.org/gt244c

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International Journal For Multidisciplinary Research