What is InsurTech?

Insurtech refers to the new and emerging technology and devices that the insurance industry uses in its operations. These tech tools include smartphone apps, data collection devices, online policy tools, claims apps, and even wearable devices that track movements for health insurance purposes. The goals of these products are to make data collection more manageable, to increase the efficiency and security of insurance operations, and to give consumers the most accurate prices and coverage available. A company in the insurtech industry relies on programmers, analysts, back- and front-end engineers, and others to work on these new insurance products.