Insurtech gives a boost to insurance

Competitors or allies of traditional companies, insurtech are shaking the world of insurance. With technology and creativity as their main assets, these start-ups have given a revamp to insurance products. They have lead to a boom in demand with tailor-made offers to the card that are widespread.

Insurance products no longer only meet the needs of the insured but also take into account their wishes and whims. Today, it is possible to ensure one's football jersey against theft or to be refunded one's ticket if a supporter is unfortunate enough to miss his match.

With assurtech, new types of contracts are also emerging:

• Insurance on demand: the service is activated as needed, for one day or even for an hour. A very useful functionality to ensure if necessary one's watch, smartphone or jewelry.
• smart contracts: they allow the compensation of the insured even before he reports the loss. These options are applicable for aircraft delays or flight cancellations. The insurer is directly notified of the delay or cancellation (the claim) through the interconnection of computer databases of airlines and airports.