 PwC Global InsurTech Report – 2017 Analytics and mobile focused, but emerging tech on the horizon Consistent with the trends highlighted for the industry, insurers Figure 3 Releant areas o technological inestent oer the ne„t 12 onths plan to heavily invest in data analytics and mobile technologies to ensure better risk insights and customer engagement models. What are the most relevant technologies for your business that you plan to invest in within the next ­ months? Alongside this they are beginning to look at emerging technologies such as AI and and robotics process automation (RPA) for short term investment (see Figure 3). RPA is already being used in back office operations to connect previously disparate systems. AI is streamlining simple claims and underwriting decisions, leaving experienced professionals free to work on more judgment based decisions. Compared to the broader Financial Services industry, insurers have chosen to prioritise IoT (22%) over blockchain (8%), whereas it is almost the inverse for the banking industry where 12 blockchain is prioritised by 25% of respondents and IoT by 11 ­ 8%. Such a focus on IoT highlights the industry shift from a ­4 €­ 34 33 33 22 reactive model to a more preventative risk management model leveraging available data. IoT offers vast amounts of data in real time, changing the way insurers will interact with their customers and manage risks to limit losses. Šata analytics ‘obile –obotics ›rtificial „yber”security ˆnternet of ƒublic cloud œiometrics Šistributed process intelligence things infrastructure and identity ledger automation (›ˆ) (ˆoT) management technologies (–ƒ›) (e’g’ “blockchain”) €ource‚ ƒw„ …lobal FinTech €urvey ­†‡ ˆnsurance €ector ƒarticipants