{"id":274118,"date":"2025-10-29T16:51:34","date_gmt":"2025-10-29T11:06:34","guid":{"rendered":"https:\/\/insurancekhabar.com\/insurance-industry-returning-to-automation-to-control-rising-costs-2\/"},"modified":"2025-10-29T16:51:34","modified_gmt":"2025-10-29T11:06:34","slug":"insurance-industry-returning-to-automation-to-control-rising-costs-2","status":"publish","type":"post","link":"https:\/\/english.insurancekhabar.com\/insurance-industry-returning-to-automation-to-control-rising-costs-2\/","title":{"rendered":"Insurance industry returning to automation to control rising costs"},"content":{"rendered":"<p>Kathmandu. In recent years, the global insurance industry has been facing increasing pressure on affordability. <\/p>\n<p>A new report by CB Insights and Crawford &#038; Co. shows this. According to the report, rising claim costs, inflation and more complex losses are driving up premiums. This is making coverage difficult for both consumers and businesses. <\/p>\n<p>Without stronger cost controls and increased efficiency, these pressures could persist and further erode affordability in key business sectors, the report warned. &#8220;Adopting technology is considered a key solution. Insurers using automation, advanced analytics and digital delivery can better manage expenses, improve underwriting accuracy, and streamline claims processes,&#8221; the report said. \u2019<\/p>\n<p>CB Insights and Crawford also pointed to innovation areas such as remote sensing, parametric insurance and experiment-based pricing. This can enable insurance companies to offer more flexible and affordable products while maintaining profitability. <\/p>\n<p>The report concludes that insurance companies need to act now to address the cost gap by using technology to control costs and redesign their products. &#8220;This is before it becomes unaffordable for many policyholders,&#8221; the report said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kathmandu. In recent years, the global insurance industry has been facing increasing pressure on affordability. A new report by CB Insights and Crawford &#038; Co. shows this. According to the report, rising claim costs, inflation and more complex losses are driving up premiums. This is making coverage difficult for both consumers and businesses. Without stronger [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":274050,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45044,45159],"tags":[],"class_list":["post-274118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/274118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=274118"}],"version-history":[{"count":0,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/274118\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/274050"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=274118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=274118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=274118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}