Insurance with FinTech
For many instances ones circumstances are very simple and the insurance they are after should be the same.
General Insurance is one area that is quickly improving with FinTech technology. Combining the known value of items with the advanced computer models we can now generate it’s possible to more accurately assess the chance of a risk occurring and provide a realistic price.
The conceived complexity around life insurance means that much of the Australian public is massively underinsured. In reality the needs of most of us can easily be assessed by a simple program and the insurance offered on the spot. There are a number of new programs that are addressing this problem and we will see many more in the coming years.