The insurer will attempt to extract the maximum amount of data through questionnaires, observations and statistics, so as to infer how the insured will behave.
According to the report, the number of insurtech deals increased 39 percent globally in 2017, with the total value of deals up 32 percent, to US$2.3 billion.
The majority of respondents indicate that technology is used to comply with the Bank Secrecy Act, vendor management, Know Your Customers rules and the Community Reinvestment Act.
At the same time, advisers have had to adjust to numerous regulatory changes, including amendments to fiduciary rules.
Computer security has traditionally been considered as a set of constraints added to pre-existing business processes, satisfied through the adoption of appropriate technological solutions and exclusive prerogative of the IT sector.