30 December 2021
  Category : Article



Insurtech or Insurance Technology is a type of digital-based insurance that uses an information technology platform in its business and marketing transactions, and usually uses several technological instruments such as Big Data and Artificial Intelligence (AI) in analyzing data and processing data. So that by using these 2 technological features, and with the increasing number of data owned by an insurtech company, the decision-making process will be more precise and accurate and will certainly have a very significant impact on the progress of the insurance sector in general.

The term insurtech itself is still relatively new in the realm of the insurance business. And when compared to other financial sectors, insurance is one of the financial sectors that has not changed too much compared to its condition in the previous few years.

According to data reported by, the insurance penetration rate in Indonesia in the previous few years did not even reach 2%. Though insurance is a very important investment and we can feel the results directly.

The presence of big data and artificial intelligence in the insurance sector facilitates data processing which will affect every transaction process. Here are some digital implementations that we can see in the insurance sector


By using Artificial Intelligence (AI) technology and Big Data systems, the underwriting process is easier and faster. The use of Big Data, especially Machine Learning, is useful for analyzing these data and increasing the accuracy of decisions to be taken. For example, in the type of vehicle insurance, the system will analyze the level of risk by analyzing driver behavior and traffic compliance.


One of the long processes in insurance transactions is insurance claims. Several stages that must be passed include the process of review, investigation, and adjustment until finally it is decided whether the insurance company will bear the insurance costs or not. This long process involves a lot of data, and in the processing there are often forgotten data that can affect the final results of the investigation.

The presence of Artificial Intelligence (AI) in the form of a document automation machine makes it easier to validate data related to insurance claims. In the case of vehicle insurance, in the event of an accident that can damage the vehicle, AI will read the scenario of the accident and issue an estimate of the costs to be borne in a short time, so that the claim submission process can be completed easier and faster than using manual investigations. This is a form of solution so that people are more interested in conducting insurance transactions, because there are no longer obstacles in the complicated claim submission process.


There have been many frauds or fraud in insurance, especially in the claim process. However, the most frequent fraud is in the type of property insurance, namely when submitting claims for property and assets. Building fires are one example of cases that are often encountered, whether it's due to an accident or intentional to gain financial benefits. By using predictive analytics tools that can read the validity of the data provided. In addition, with the algorithm system formed, the company can read the background and history of its customers, as well as their relationships to detect if there are other suspicious things.

Translate to Indonesian         Share :      

Buy Online Insurance

Health insurance, vehicle insurance, car insurance, education insurance, travel insurance, credit insurance

Type of Insurance
Mobile / WA