The Growth of Insurtech at the Time of Algorithms

What you need to know: With the continuous rise in the number of insurtech startups, the younger generation is not interested with the expensive and tedious processes related with conventional insurance. Peer-to-peer insurance sounds sexier, with each player promising more social and transparent engagement, and yet lower cost insurance. Insurtech is also on-demand, event-specific, and item-specific coverage.

Why it is important: P2P insurance, as introduced by companies like Lemonade, is a topic that is being tested, and could be disruptive. The use of big data and the Internet of Things will affect insurance and insurers will need to take action

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