The digital transformation in the insurance sector has been significant in recent years. Insurtech startups have disrupted traditional insurance models with technology-driven solutions. This includes artificial intelligence (AI) and machine learning, which insurers are using for claims processing, underwriting, fraud detection, and personalised policy offerings.

Additionally, blockchain technology is gaining traction for its ability to enhance transparency and reduce fraud, while telematics is revolutionising auto insurance by enabling insurers to track driving behavior for more accurate pricing.