New Delhi, Oct. 28 -- Creating the accelerated, highly-personalized online service customers demand and quickly developing new products in response to shifting regulatory and market forces won't be possible unless life insurance and wealth management companies are able to fully leverage tomorrow's technology.

Taking that leap into the tech-enabled future won't be easy for most companies, whose infrastructure is decades old, but the potential revolutions in risk mitigation, customer experience, and product development are so significant that modernization is not going to be optional.

Emerging technologies like the Internet of Things (IoT) and Artificial Intelligence (AI) will reshape all industries. They will cause customer expectations ...