InsurTech – FinTech's Next Frontier: Can It Insure a Billion People?

According to a global quarterly report by KPMG, last year, USD $24.7 billion was invested in FinTech companies across the globe. India too has witnessed a flurry of venture capital investments, particularly in the areas of SME lending, P2P lending, mobile wallets, payment services and robo-advisory. As a venture capital firm investing in startups impacting the masses, we have a deep interest in FinTech companies that can integrate large sections of the population into the formal financial infrastructure by providing more than just access to finance. One such exciting segment is insurance technology (or InsurTech) i.e., leveraging technology to make insurance more affordable and accessible.

Finally, a new era for insurance?

One of the oldest and most conventional industries, insurance has witnessed minimal disruption, other than online aggregators like CoverFox and PolicyBazaar that allow customers to compare policies from various providers on one platform. Large player ...

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