Leading the Charge: Championing Tech Investment in the Insurance Sector

Insurance industry leaders are adapting to a technology-driven environment, increasing tech spending from 3.28% to an expected 5.85% of revenue by 2024, to stay competitive. Deloitte suggests investments in AI, blockchain, and ML to enhance operational excellence and innovation. Despite measurement challenges, technology remains fundamental for insurers’ success and shaping a tech-dominated future, calling for strategic and cost-effective investment planning.