With the rapid growth of technology development, many industries
have integrated the use of technology in their business processes to a
more efficient and optimal process, including the insurance industry.
However, this advancement exerts a disruptive and transformative
influence over on the retail and commercial segments of the
insurance sector, offering challenges and opportunities that can be
game-changing. The market will benefit from incumbents working
together with newcomers in collaborations, alliances, and mergers
and acquisitions to create better offering to the consumer.