Document Type : Research Paper


1 Member of The board of Directors in Faradis Gostar Kish Co.

2 Research and Innovation



One of the indicators of economic development of countries is the level of development of their insurance industry. In recent years, policymakers have focused on spreading financial technology especially in the insurance sector as one of the pillars of the financial industry and one of the key sectors of the economy. Today, the use of technology in the insurance industry to give more people access to financial services is increasingly considered so that start-up insurance businesses or insurtechs have entered to the field of competition with traditional insurance companies by creating unique value proposition and improving the business model.they lead to cost reduction, improved customer experience, new product launches and effective risk management Using artificial intelligence, machine learning, IoT, blockchain technologies and other new technologies. In this research, based on a systematic review of texts and reports of top global consulting groups, the macro trends of the insurance industry, the challenges of the insurance industry and solutions to solve these challenges have been studied. Findings showed that macro trends in the insurance industry include seven areas of customer-centricity, social and environmental changes, technological change and digitalization, fierce competition, the need for human capital and talent from other sectors, strategic partnership and cooperation, emerging new business models and key challenges include limited purchasing power, limited knowledge, low trust, poor communication and CRM, disproportionate products, poor distribution, and poor business models. In the following, solutions are provided for each of the challenges based on the stated trends.


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