Insurtech refers to the use of technology to make insurance services more efficient and customer-friendly. Later in 2024, expect to see more insurance companies adopting advanced technologies like artificial intelligence (AI) and machine learning. These technologies may help insurers analyze data faster and more accurately, leading to better risk assessment and personalized policies. AI chatbots are becoming common in customer service, providing instant responses to customer queries and processing claims faster. Wearable devices and smart home technology can play a role in how insurance companies assess risks and offer discounts to policyholders who take steps to minimize potential hazards.