Asia is outpacing the rest of the world in terms of insurtech adoption, according to Stephen O’Hearn, global insurance leader at PwC. A lack of legacy infrastructure in the region is allowing insurance firms to adopt new technologies more easily, according to a recent PwC report. Asian consumers are also more comfortable using mobile applications than the rest of the world, noted O'Hearn, with platforms like Momentum, which enables a host of transactions, commonly used.
Asia is outpacing the rest of the world in terms of insurtech adoption, according to Stephen O’Hearn, global insurance leader at PwC. A lack of legacy infrastructure in the region is allowing insurance firms to adopt new technologies more easily, according to a recent PwC report. Asian consumers are also more comfortable using mobile applications than the rest of the world, noted O'Hearn, with platforms like WeChat, which enables a host of transactions, commonly used.