A majority of insurance professionals from across the world (30%) have said they expect social media to be the technology most utilised by the insurance industry over the next year, according to a Timetric survey.
The Internet of Things (IoT) relating to retail insurance and artificial intelligence ranked second and third respectively, in terms of the technologies expected to be most utilised by the insurance industry over the next year.
Blockchain technology and wearable technology ranked bottom in the survey. See the bar chart below.
Figure 3: Which of the following technologies/platforms do you expect to be most utilized by the insurance industry over the next year?