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Insurance

Insurance Industry Stats

Insurtech investment reached approximately $4.9 billion in 2018. Worldwide Insurtech Market income was esteemed at 5.48 billion of 2019 and is supposed to arrive at 10.14 billion by 2025, reaching a CAGR of 10.80%. A recent PwC report claims that blockchain offers a $5 billion opportunity for P&C insurers. Considering this data, surely AI and other emerging technologies will have a huge impact on all aspects of the insurance industry. Right from distribution to underwriting and pricing to claims will witness the increase.

According to some estimates, by 2025 95% of all customer interactions will be powered by chatbots. Insurers can’t afford to delay in leveraging IoT capabilities, as forecasts project a global IoT insurance market value of $42.76 billion by 2022.

A Note To The Insurance Industry

The future of Insurance is in using the right kind of technology and making the process more agile, convenient, and progressive. Technology can not only enable functions like predictive analytics for pricing and risk selection, but it can also help in identifying customers at risk of cancellation, identifying risk of fraud, triaging claims, identifying outlier claims, anticipating trends, and more.

Advanced tech in insurance is already an essential part. Paper insurance is for the most part a thing of the past. Now getting insurance statements can be just about as simple as clicking a button. Overseeing coverage can easily be achieved by means of a mobile application. Similar to this, new advancements permit companies to more successfully oversee risks and utilize complex client data, a critical step in developing a predict and prevent model. Insurance technology is ready to develop significantly more in the coming years.

At Ajackus we are dedicated to bringing that change and constantly gathering talent to serve you in the right way.

Let us enable this transformation in the Insurance industry by partnering with us.

Team Ajackus

What Our Clients Say

We have personally and professionally learned a lot from the entire team. The major deciding factors to proceed with Ajackus were technical knowledge, attitude towards finding the best fit solution, project management processes, and cost-effectiveness. The successful completion of the project has helped us save nearly 40% of our time which was earlier spent on manual processes. I can confidently say that we are not just dealing with a company here but, a group of people that care equally about the success of their client's business. We are proceeding with Ajackus for all the next phases in our technical roadmap.

Web App Dev for Behavioral Health Software provider

Jyot Rekhi, Founder and COO, WAI

Ajackus was everything we could have asked for. They understood the industry nuances and initiated a game plan for a solution. The Ajackus team, led by its founder, anchored our progress with daily stand-ups between core representatives from both sides. This enabled us to communicate, discuss specifics and collaborate to execute efficiently. Ajackus’ existing understanding of the travel industry coupled with its strength in scaling technology teams as required, is their strong suit.

Traveler Safety Data Platform Dev for Travel Tech Company

Chetan Kapoor, Co-Founder & CSO Safe Travel Barometer

Ajackus has a diverse team, skills that stretch based on my needs, and an attitude of enthusiasm and cooperation.We found the team to be extremely professional in our initial conversations and well versed in the technologies we were using and planned to implement. Their cheerful attitude towards the project, efficient approach to communication and team coordination were impressive. If you are looking to hire a team that understands processes, open source, efficiencies in software development and one that has an almost unending bunch of talent, then you should hire Ajackus.

Custom Software Dev for Open Source Platform

Greg Lind, CEO, Buildly, Inc.

Ajackus is quite literally the best-outsourced engineering firm I’ve ever had the pleasure of working with. Their agile project management methodology really sold us on working with them. They understood that we are a bootstrapped startup and made every effort to partner with us to make the project cost-effective. Product decisions were thoughtfully based on how some of our legacy technology decisions were made. From the very beginning of our partnership, there was not only a sense of quality engineering advice and service but a real strategic nature to their approach.