A subset of Fintech, InsureTech is a broad term to cover a range of tech start-ups and innovation within the insurance industry. There are a few genuinely innovative ideas in this space which cover some interesting key themes such as the personalisation of pricing, the reestablishment of mutual businesses, peer-to-peer and community initiatives and the use of smart contracts in the claims process.
In addition to these interesting ideas, here are also a huge number of tech firms who are essentially just doing good old fashioned insurance brokerage in a slightly different way to those before them. It is unlikely that many of these players will make a lasting impact on the industry.
Disagree or want to add something? What does Insuretech mean to you?