insurtech

Noun

Meaning

insurtech (uncountable)

The use of information technology in the insurance industry.

Examples

A committee of specialists linked with the programme will identify and select innovative businesses in early phases with fintech and insurtech projects. Source: Internet

One of the interesting trends in the field is the synergies between insurance and insurtech companies with specialized tech companies to enhance risk prediction and management. Source: Internet

Established insurance firms such as Geico as well as insurtech startups such as Lemonade are using AI-powered chatbots to settle claims. Source: Internet

Other large transactions included $282 million insurtech PolicyBazaar raised from two deals and the $120 million from credit card payments company CRED, the findings showed. Source: Internet

The new promise — the modern concept of insurtech — is the embrace of a strategy driven by collaboration and innovation rather than disruption. Source: Internet

TypTap considers itself an insurtech and refers to its technology process as “positive underwriting” to streamline the underwriting and sales process. Source: Internet

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