Exploring Insurtech Innovations

Exploring Insurtech Innovations

University

10 Qs

quiz-placeholder

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Exploring Insurtech Innovations

Exploring Insurtech Innovations

Assessment

Quiz

Arts

University

Easy

Created by

Subalakshmi BCom A&F and BA

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a primary benefit of micro insurance?

Complex application processes that deter applicants.

Affordability and accessibility for low-income individuals.

High premiums that exclude low-income individuals.

Limited coverage for health-related issues.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which company is known as a key player in insurtech?

Allstate

Lemonade

State Farm

Geico

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How does digital transformation impact traditional insurance firms?

Digital transformation enhances customer engagement, operational efficiency, and data analytics in traditional insurance firms.

Digital transformation eliminates the use of data analytics in insurance.

Digital transformation leads to decreased operational costs without any technology investment.

Digital transformation reduces the need for customer service representatives.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What type of coverage does micro insurance typically provide?

Comprehensive health insurance for all individuals.

Coverage for specific risks faced by low-income individuals.

Universal life insurance for high-income earners.

Property insurance for commercial businesses.

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Name one major challenge faced by insurtech startups.

High customer acquisition costs

Limited access to technology

Lack of market demand

Regulatory challenges

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which technology is commonly used in digital transformation of insurance?

Cloud Computing

Artificial Intelligence and Big Data Analytics

Blockchain Technology

Internet of Things

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the role of regtech in the insurance industry?

Regtech is primarily used for customer service improvements.

Regtech automates compliance, enhances risk management, and improves data analytics in the insurance industry.

Regtech focuses solely on marketing strategies in insurance.

Regtech eliminates the need for data analytics in the insurance sector.

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