As the world becomes more connected than ever, the need for better technology in the insurance sector is also increasing. The connected world is why technology has become the cornerstone for the growth of the insurance sector. Insurance companies are facing challenges related to the technological aspect of the business. Managing all the data is a challenging task for insurance companies. With this vast amount of data at hand, it becomes difficult for the insurance executives to work with it and obtain meaningful insights to help them understand, address, and acquire the customers better. Hence, the role of emerging technology tools is becoming more prominent across the insurance value chain.