Insurtech, a blend of “insurance” and “technology,” refers to the use of technological innovations designed to extract savings and efficiency from the current insurance industry model. Insurtech is part of the broader fintech movement and encompasses a wide range of applications, from the use of big data analytics and artificial intelligence in underwriting and claims processing to the deployment of new business models such as peer-to-peer (P2P) insurance.
Our platform doesn’t exist if we don’t get along with carriers. Our job is to understand regulations and push them to the limits for the consumer. Our core value lies in being the carrier’s digital enabler.
Snejina Zacharia of Insurify
In Simpler Terms
Even though we’re oversimplifying it here, insurtech is pretty much the smart cousin of traditional insurance. It’s a modern twist on insurance, blending traditional coverage with the speed and personalization of today’s technology. Instead of navigating a maze of paperwork and waiting weeks for claims to process, insurtech lets you manage everything digitally.
