While InsurTech offers benefits via process efficiencies, cost reductions, or radical changes to the customer, it was under the late adoption category when compared to other financial industry sectors, as per a report from Deloitte.
Figuring the current state of InsurTech, it is found by Accenture that InsurTech deals in the USA are still the highest with $1.24bn worth of deals. However, the number of insurtech deals in Euro