Insurtech is a new ecosystem within the insurance industry. The Internet of things, as well as new “smart” technology applied to the insurance sector, introduces new players to the field and deeply transforms the business models in the industry. Big data now allows insurers to secure the data related to individuals and to draw up custom protection programs, while accurately assessing the risks involved. Internationally, nine out of ten traditional insurers fear that the rise of Insurtech start-ups will have a negative impact on their own activites, and according to PricewaterhouseCoopers, nearly half of them could lose up to 20% of their share of the market to their new competitors. The Blockchain system should greatly improve security and enhance the general customer experience. Robo-advisors should eliminate some of the need for intermediaries and reduce operational costs. This revolution will spread across all borders and will reinvent the value chain of the insurance and wealth management sectors.

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