InsurTech — Insurance Technology: Complete 101 Guide
InsurTech — Insurance Technology: Complete 101 Guide Last updated: March 2026 What is InsurTech? InsurTech applies technology to insurance - from distribution and underwriting to claims processing and servicing. Key Segments Segment Technology Used Distribution AI chatbots, robo-advisors Underwriting ML risk assessment Claims Computer vision, automation Distribution Embedded insurance Major InsurTech Players Company Focus Policybazaar Comparison platform Digit Digital-first insurer Acko Embedded insurance Plum Employee benefits Riskcovry B2B insurance How InsurTech Works Digital Onboarding User selects product AI assesses risk profile Instant premium quote Document upload (DigiLocker) Policy issued instantly Claims Processing AI damage assessment Automated verification Instant settlement (for simple claims) Digital claim tracking IRDAI Regulations Sandbox for innovation BIMA guideline compliance Protection of customer data Grievance redressal mandate Consumer Rights Instant policy issuance Real-time claim status Transparent pricing Coverage clarity IRDAI complaint portal