How Digitalization Can Help Manage Risks in Insurance Sector
6 Pages Posted: 22 Jul 2021
Date Written: July 19, 2021
Digitalization such as big data, artificial intelligence, the internet of things, cloud computing, and Blockchain is an enabler in the insurance sector. The key areas from where some of the risks in the insurance sector arise are customers, claims, cross-selling, churning, mis-selling, fraud, etc. Such areas often lead to the cropping up of operational risks. Digitalization helps in managing such risks.
Keywords: Risk Management, Risk Mitigation, Enterprise Risk Management, Operational Risk, Risk Culture, Insurance
JEL Classification: G10, G20. G21, G22, G23,G24,G25,G26,G27,G28,G29
Suggested Citation: Suggested Citation