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Insurance and Technology: The Rise of Insurtech

December 22, 2023 Guest Author

The insurance industry, traditionally viewed as conservative and slow to adapt to change, is undergoing a dramatic transformation thanks to technology. This fusion of insurance with technology, known as ‘Insurtech’, is reshaping the landscape of insurance offerings, customer service, and business models. The Evolution of Insurtech Insurtech began as a response to the digital revolution that has swept across other sectors. Today, it represents a broad range of applications: from artificial intelligence and machine learning for underwriting and fraud detection, to blockchain for secure and transparent transactions, and the Internet…

Registering an Insurance Company in Ireland

May 5, 2023 Guest Author

insurance company in Ireland how to open one

The insurance sector is a highly controlled government-enforced syndicate. First off, you will require a license issued by the Irish Financial Services Regulator. Also, you’ll require a massive amount of capital because there is a needed risk ratio which is really high. Some companies can alleviate the risk for you (reinsurers) to aid with this prerequisite but they impose a levy (can reach up to 30% for high-risk companies). Ireland provides a great investment opportunity since the local economy is growing rapidly. Several industries in Ireland testified to experiencing considerable…