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The majority of insurtechs will help carriers innovate. But even those competing with incumbents head on can offer valuable lessons to insurers on how to improve customer interaction and utilize digital technologies, according to Jeff Goldberg, SVP of research and consulting, at Novarica.
“These lessons that startups bring to the marketplace about embracing modern technology, design and automation are things you can replicate,” he says. “It’s hard to defend a business [model] that is predicated on a bet that incumbents won’t modernize.”
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