The survey also found that many insurers view technology as the most effective means to close the protection gap. Some companies are already applying advanced tools to reduce insurance costs, with 40% of respondents reporting the adoption of these measures. Others are developing new products, such as parametric or microinsurance, which 40% of organizations are currently using. Additionally, 28% of firms are engaging with regulators through industry bodies, while 32% are using data to improve risk assessment and product design.
