An emerging trend that will replace Insurtechs

PRADEEP JAGANNATHAN | December 9, 2019

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For decades, the insurance industry was not a competitive market. The major players were traditional insurance companies, who were exhibiting high resistance to change. Now, in the last five years, with the advent of new technologies, the competition is slowly shifting to a new arena with the inclusion of new players - called disruptors. An insurtech is one such disruptor in the industry, like Fintech which disrupting the banking industry. An insurtech is an entity in which technology plays a role of strong catalyst in the insurance business.

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