Technology is making the insurance industry more efficient despite headwinds from the traditional environment, according to Swiss Re.

At the reinsurance industry's yearly Rendex-Vous conference in Monte Carlo, the global reinsurer said that technology transformation is a core strategy for the company. The company cited its work on analytics, telematics and cyber risk as evidence. It also affirmed a commitment to the growing insurtech sector, including the launch of an accelerator program in Bangalore and stakes in wearable physiology monitoring company Biovotion Ltd and personal data start-up Digi.me.

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