RMS’ Farhana Alarakhiya on the speed of change in insurance

Compared to other sectors such as retail or banking, technology has so far had very little impact on re/insurance, believes Farhana Alarakhiya, vice president, product at RMS, intelligence and technology provider to the sector. But she is seeing a huge allocation in companies’ budgets towards data and analytics, suggesting that the industry is preparing for a massive change in processes and products.

Intelligent Insurer spoke to Alarakhiya at the Intelligent InsurTECH Europe conference to find out more about how the re/insurance industry can take advantage of technology to grow the business.