Insurtech startups are emerging as the insurance industry is waking up to the technological advancements customers have come to expect from other industries. The banking sector has been transformed and disrupted greatly by fintech, but insurtech remains a long way behind and a very different proposition, despite recent progress. Funding to insurtech market start-ups surpassed $1.0bn halfway through 2016, highlighting the progress made. However, substantial improvements remain essential in basic areas such as mobile websites and apps, while more innovative areas such as blockchain and the Internet of things (IoT) have the capacity to revolutionize the industry. read more: whatech.com
