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Insurtech patents jumped by 40% in 2017

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Magazine Issue: 
Reinsurance in a stalemate [3]
Magazine date: 
Nov 2018

The professional services firm Reynolds Porter Chamberlain (RPC) said that 917 insurance technology-related patents were filed worlwide in 2017, that is an increase of 40% compared to the 657 patents of 2016 and 116% compared to 2013.

22% of these insurance related to pricing. Telematics, artificial intelligence [4] and machine learning also represented a significant portion.

Mark Crichard, partner at RPC underlined the importance of the insurtech [5], through technology, in the development and improvement of insurance products.

Wed, 14/11/2018 - 10:40

Source URL: https://www.atlas-mag.net/en/article/insurtech-patents-jumped-by-40-in-2017

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[3] https://www.atlas-mag.net/en/issue/reinsurance-in-a-stalemate
[4] https://www.atlas-mag.net/en/article/artificial-intelligence-and-the-insurance-industry
[5] https://www.atlas-mag.net/en/article/what-is-insurtech