From the past few days, I've been listening 'Insurtech' and startups a word combining Insurance and technology. Mine idea, 2 years ago from now, Insurology made up of Insurance and Technology. Right? Not much of difference but what I do is cover about Insurance and not 'Cover' Insurance.
You may sound confused right now but Cover is, again, insurtech startup with an app that recommends insurance based on what’s photographed in your home. Similarly, there are many. Many like Sherpa, Flock, Lemonade and for India, Acko, Digit all are raising money but they all are directly connected to Insurance. These are the ones who understand the needs and try to provide the Insurance without any hassle and why they will go viral not only you can buy immediately and without efforts with them but because of simplicity they 'may' or 'will' provide for the claims made.
Whatever is coming, the lustrum will prove to be the rise of the Insurance at-least in the lives of people and we know that how many are deprived of this 'basic facility'. AI takes some seconds to process the data. That is all they are building and enhancing at the moment. The AI, The Cloud and the database. Lets see if they will really be able to make people accept the change they are trying to make.
Live La Insurance, Live La Tech :)
Do you think they'll be able to justify the need of Insurance as well make them buy it?
Category: Funding longer lives: Longevity risk, Other