The global insurance technology market is expected to reach $10.14 billion by 2025, growing at a compound annual growth rate (CAGR) of 10.8%, according to a report by Grand View Research. For Dario Battista (pictured), CEO of isure Insurance, however, technology alone isn't the solution.
"Technology is the enabler," he said. "It’s not the silver bullet that many people thought in the past. At isure, we talk to all our customers. Our proposition is to answer 95% of our calls in 30 seconds. So, when you call us, you shouldn’t get a voicemail. Someone should pick up."
This focus on rapid, personal service aligns with the needs of today’s consumer, who values both convenience and expert advice. And, it’s certainly something that’s aligning with client expectations in a digital age. Data from GlobalData found that almost four in 10 customers are comfortable having an AI tool help in insurance claim outcomes, with younger individuals more likely to trust in new tech than their older counterparts.
"The way we’re structured is that’s the customer we’re looking for," Battista told IB. "They need advice, but they want it in an efficient way. For us, it’s all about making it friendlier and easier. We use technology to really enable that customer experience. We identify who that customer is online, track their journey, and manage the costs and marketing around that. It allows us to create a delivery platform that executes on our value and brand promise."
For isure, technology is a tool to support – not replace – the human element. And the data certainly seems to chime with this sentiment. It’s a common belief that the real ideal in insurance is a marriage of human and robotics. Research from InRule Technology shows that while people are interested in AI in the insurance process, a whopping 70% still prefer to mainly interact with a human broker.
"If you want us to come to your house, we’re really not that office," Battista said. "But for certain segments of our business, like commercial accounts, we have account managers who go out when things reach a level of sophistication."
Looking ahead to 2025, Battista sees both challenges and opportunities for brokers. "Insurance distribution is evolving, and brokers have the chance to help drive that change," he said. However, this requires a shift in thinking. "Brokers need to evolve their business models and adopt a broader view of the market."
Ultimately, Battista emphasized that brokers are uniquely positioned to provide value in a competitive marketplace.
“When you think about the distribution space, there are brokers, directs, agent-based businesses, and even embedded insurance. The key differentiator for brokers is choice. They offer consumers a basket of products and solutions that you can’t find in other channels. Brokers are the only channel required to put the customer’s interest ahead of the insurer’s interest. No other channel has that requirement. By licensing, we work directly for the customer."
This dual advantage – choice and fiduciary responsibility – positions brokers as essential players in a rapidly evolving industry.
Battista drew parallels between insurance and other sectors to illustrate how digitalization can enhance – not diminish – choice.
"People often think digital means direct, but that’s not necessarily true," he said. "Take Amazon, for example. It’s the most diverse retailer in the world, offering more choice, not less. You look at travel – Expedia is a travel agency that gives consumers more options than traditional agents ever could."
And these examples challenge the misconception that digital transformation eliminates intermediaries.
“In travel, the airlines tried to go direct, and they failed," Battista said. "Expedia succeeded because it offered more choice and better service."
One of the industry’s pressing challenges is connecting with younger generations. Battista sees an opportunity for brokers to resonate with this demographic by highlighting their strengths.
"Younger consumers don’t blindly take what’s in front of them," he told IB. "They fact-check everything. Brokers provide the kind of choice and expertise that aligns with how they shop for other services."
By leveraging technology and maintaining a customer-first approach, brokers can remain relevant in an age where digital tools dominate.
"It’s about showing younger customers that brokers are here to simplify their decisions, not complicate them," Battista said.
And, as the industry navigates its digital transformation, Battista was clear that success lies in balance.
"Technology isn’t a replacement for human expertise. It’s how we enable better service," he said. By combining rapid response times, personalized advice, and digital tools, isure Insurance aims to set a new standard for the industry.
“We’ve invested a lot of time and effort on our technology and identifying who that customer is online, getting ourselves in front of them, being able to track that customer journey. It’s about being able to track what you know, the costs and the marketing around that, and then using the technology to create a delivery platform, if you will, that allows us to execute on that value promise – that brand promise to the client.
“Technology really is the enablement of all that – but it’s not the solution. It's how you enable all these things, it's not the silver bullet that many people thought in the past.”
And, for brokers, the future demands adaptability, innovation, and a steadfast commitment to the customer – a perfect marriage of robotics and humanity to create something seamless for the customer.
"It’s an exciting time for insurance," Battista said. "There’s a real opportunity to shape the industry for the better."
