Complex Insurance Landscape Will Witness the Rise of New Stars, Suggests LTP Report

Insurance is complex in nature. This complexity has created barriers for FinTech startups with limited resources. Till 2013, Insurance tech or InsurTech was not as developed as other parts of the FinTech segments. Since 2013, the insurance segment has been showing signs of taking off with respect to FinTech. Several incumbents are planning to disrupt the $4.5-trillion industry by leveraging technological capabilities. Use of disruptive technologies like big data, Internet of Things (IoT), mobility, social network and blockchain are gaining momentum and InsurTech firms are looking for a scope to capitalize it.

FinTech startups have already stormed into th ...

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