welcome to insurtech Algeria
We have launched this website to share our passion with other Algerians and/or anyone interested in Insurtech in Algeria
Insurtech as a subset of fintech
It’s the technology that lies behind the creation, distribution and administration of insurance business.
Smartphone apps, wearables, claims processing tools, online policy handling and automated processing are all insurtech.
Insurtech is useful for collecting and analysing customer data to provide a better service
Disruptive innovation
Digital-first insurtechs are challenging inefficiencies and reducing costs across the insurance industry.
Insurtechs are notably helping companies improve customer journeys and experiences.
Older technologies used by traditional players are more product focused.
Insurtech is build around specific technologies
From Artificial intelligence to blockchain via Robotics and Internet of things, new technologies to offer better tailored products via new channels to clients.
Recent developments
Data science
Data Science in the insurance industry helps insurers to develop successful strategies for acquiring new clients, developing tailored products, assessing risks, assisting underwriters, implementing fraud detection systems, and much more. Data science is implemented already
Blockchain
A blockchain is a distributed register to store static records and/or dynamic transaction data without central coordination by using a consensus-based mechanism to check the validity of transactions. Blockchain allow all the parties to the transaction to view and verify the paperwork in real time.
Artificial intelligence
Artificial intelligence refers to the simulation of human intelligence in machines. Machine learning is a specific subset of AI that trains a machine how to learn Data science in insurance allows providers to reduce risk and streamline workflows.
Robotic Process Automation
With an implementation of Robotic Process Automation, insurers can improve back-office processes and customer-facing services, while also transforming the work environment. Large volume claims forms can be carried out with just a third or half of the people needed compared to when the process was manual
Cloud computing
Cloud computing in the insurance industry can allow insurance companies to manage their costs very smoothly. The insurance industry will potentially save a huge amount of money by introducing cloud-based technology
Internet of things
Internet of things allows data to be collected and exchanged continuously across networks, thereby speeding up and optimizing the process of claims, minimizing data duplications, and largely eliminating customer frustration