InsurTech: Another opportunity for Gibraltar

In recent times the use of technology in the provision of financial services has become well established, with the likes of crowdfunding platforms and 'Peer-to-Peer' (P2P) lenders already considered fairly mainstream. The insurance industry has however, traditionally, been slow to embrace new digital trends. A shift in this attitude is now becoming apparent as a number of developments in the area of insurance technology, or InsurTech for short, continue to gain prominence. InsurTech itself refers to the implementation of technology by traditional insurance firms in the targeting of all areas of insurance, including distribution (how insurers reach consumers) and analytics (how insurers collate and use data).