GAFAMs and insurtechs


Amazon SpheresInsurtech is a combination of the words Insurance and Technology. The term defines companies, often startups, that use technological innovations to develop the current insurance model.

Insurtechs These companies are exploring avenues that large insurance companies are less likely to pursue, such as ultra-personalized policies, social insurance, or the use of a new mode of data flow from connected devices.

Insurtechs have been around for a decade. They complement and improve the services of insurers.


The acronym GAFAM stands for Google, Apple, Facebook, Amazon and Microsoft, the five most powerful companies in the Internet sphere. These companies hold a phenomenal economic and financial power that can be greater than that of a State.

These GAFAMs (or GAFAs, with the removal of Microsoft), represent the economy of the beginning of the 21st century. They embody the passage to the digital era. Often encouraged by the States, other digital platforms are developing and experiencing a significant growth such as BATX, a grouping of Chinese companies Baidu, Alibaba, Tencent and Xiaomi.

Within the GAFAMs, complementarity is not perfect. The different players are sometimes in competition in several areas. For example, Apple and Microsoft are competing for operating systems.

Apple and Alphabet (Google's parent company) are in a battle for the tablet market, while Facebook, Google and Amazon are at war with each other in the field of online commerce.

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