Chapter 8: Innovating InsurTech with AR: A Human-centered Conceptual Model for Managing Occupational Risk Through Dynamic Digital Solutions

The insurance industry is undergoing a remarkable transformation with the integration of augmented reality (AR) into InsurTech, making insurance more accessible, engaging, and efficient. Once seen as a luxury for the wealthy, insurance is now essential for financial security, driven by urbanization, economic growth, and rising awareness of unpredictable risks like climate disasters and pandemics. Technologies like AR, artificial intelligence (AI), and blockchain have streamlined processes such as underwriting and claims, while AR adds a new dimension by enhancing risk visualization and simplifying complex policies. This chapter delves into how AR-powered solutions are bridging gaps in traditional insurance models, improving customer experiences, and fostering inclusivity. By focusing on human-centered designs (HCDs) and leveraging digital tools, InsurTech is not only expanding its reach in underserved markets but also reshaping the way occupational risks are managed. The aim is to highlight how these innovations are paving the way for a more responsive and inclusive insurance ecosystem that aligns with the evolving needs of individuals and businesses alike.