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Five New Types of Insurance: From Revenge Porn To Drones

In the recent FinTech report Money of the Future ‘H12016," you can find the latest trends in InsurTech – one of the fastest growing verticals in FinTech, which has generated $3 billion in new investments in 2015 (with the total FinTech investments around $21B) and already more than $2 billion in the first half of this year.

Insurance offers a huge opportunity that has yet to see real innovation. People do not like or trust insurance companies. Yet over the last 18 months, more than 100 insurance startups have been launched. Many entrepreneurs are waking up to the fact that insurance is arguably one of the most old-fashioned, analog consumer services in existence, and they are creating companies to upend this premise.

Vivek Garipalli, CEO of Clover Health, mentioned why startups are more successful than traditional players in innovation: There's a big difference between spending a lot of money on technology and being a technology company. New types of insurance have co ...

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