Tech startups set to shake the traditional insurance market

The insurance industry has been around for over 300 years, but the rise of small, agile businesses employing new technology like AI is disrupting life for more established players. A study from IT and consulting firm NTT DATA shows 'insurtech' startups have globally raised more than $11bn in the last three years, more than double previous years. The fastest growing area of insurtech investment is AI-based startups, where $2.02 billion has been invested -- an increase of 665 percent. This is leading older companies to look at their use of technology too, with 93 percent of the London specialty insurance… [Continue Reading]