InsurTech
InsurTech
The term Insurtech describes technical advancements developed and used to increase the effectiveness of the insurance sector. The invention, distribution, and management of the insurance industry are all supported by Insurtech.The insurance sector now has a very low penetration compared to global leaders, making Insurtech the fastest-growing FinTech sub-segment in terms of market opportunity. It will assist increase the general penetration of the insurance sector as the National Health Stack emphasises the importance of health insurance.
Companies (Digital Brokers) in India
The State of India FinTech Report Q2 2022, InFocus: Insurtech, the most recent publication from Inc42, states that there are over 300 active Insurtech businesses in India. Few Companies among them are:
- PolicyBazaar
- Paytm
- OneAssure
- ditto
- turtlemint
- Artificial Intelligence
- Machine Learning
- Internet of Things
- Apps
- Cyber Security
- Big Data
- Blockchain
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