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The Insurtech revolution is gaining momentum, bringing new challenges

Thursday, September 14, 2017 @ 1:56 PM | By Nancy Carroll and Ana Badour

Advancements in technology encompass the Internet of Things, big data — including data from the use of drones, GPS tracking and individual wearable devices — artificial intelligence, blockchain technology, smart contracts and genome technology. The use of these advancements to innovate how insurance business is carried out is known as Insurtech.

Much of the emphasis in financial technology has so far been on the banking industry, where Fintech has had a significant impact on bank lending, wealth management and payment products. Now the emerging Insurtech industry...