Insurers face increasing threat from InsurTech start-ups
Friday, 04 01 2016, Category: Insurance and Reinsurance, Country: United Kingdom
Competition within insurance is a significant factor affecting growth, with an increasing challenge from start-up InsurTech companies, according to the latest financial services survey published by PwC and CBI.
An InsurTech can be described as a firm or a specialist that uses technology to either compete in, or provide solutions to, the industry.
Jonathan Howe, UK insurance leader at PwC