An introduction to InsurTech (With Sarah Kocianski)

Welcome to Insurance Covered. In this episode our guest is Sarah Kocianski, Strategic Insight Lead at Founders Factory, an accelerator that invests in FinTech and InsurTech start-ups. This week we are looking at an introduction to InsurTech's.

We start by discussing what exactly an InsurTech is. Sarah defines it as; "the use of technology to make the insurance industry work better and step in line with modern customer needs and customer expectations".  The insurance industry can be described as a very traditional and until recently was in need of modernising to bring the whole industry into the 21st century. InsurTech's are one way in which we are seeing this transition happen.  

We then move onto some of the current uses of InsurTech's. We discuss current applications of InsurTech is three main strands: pricing, contracts & claims handling. We discuss how InsurTech has influenced each of these different aspects for both the insurers, brokers and insureds. 

In this episode we also discuss:

• How InsurTech has changed insurance.
• Common InsurTech jargon and what they mean.
• Embedded insurance & parametric insurance.  
• The current InsurTech market and what comes next.

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