InsurTech well and truly made its mark in 2016, stealing some of the thunder (and investment) away from its big brother, fintech, with tonnes of exciting start-ups and innovations hitting the market.
So, what does the next 12 months have in store for us?
We can expect continued investment from established players in the market. With the breadth of technology now at our disposal and insurance customers still crying out for change, we'll be seeing plenty more new players attracting big bucks in the next 12 months.
Cyber insurance will be a must have and the level of connectivity and data analytics will start to purvey other areas of insurance in 2017, with insurers using connected devices to track your behaviour relating to a given risk.
AI promises to enhance the customer experience and greatly improve efficiency across the industry and we will see even greater personalisation with companies offering policies that accurately matching customers specific needs.
Click here to find out more from Ben Rose, Chief Underwriting Officer & Co-founder, Digital Risks what's in store for InsurTech this year!
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The $10.4M investment round was led by BHL Holdings, a well-respected and highly regarded international group with a strong reputation for insurance innovation. Nire Capital also participated in the round alongside existing investors Concentric, Beazley and Seedcamp.