Barrier in InsurTech Implementation

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  1. Regulation of different countries, privacy o users,
  2. Coretech solves the biggest insurtech innovation barrier: integration.
  3. 2008 had no insurance. Customers had concerns with product ignorance, lack of transparency, and misselling.
  4. Insurers are overcoming challenges to insurtech deployment. Insurance is complicated, with numerous restrictions and controls, as Rutta said. Creating the ideal user experience requires complex systems and rules engines with a simple user interface, he added. This entails untangling and reconfiguring outdated systems and integrating new platforms and data management. Nearly every insurer is racing rival insurers and startups to remodel or replace their back-end systems.
  5. Insurtech explores options conventional insurers have less motivation to pursue. Lack of a common venue for insurers and insurance professionals adds to discrepancy.

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