Can Ireland Become A Vibrant Centre For Insurtech?

Insurtech is an area that has seen exponential growth over the last decade. It essentially involves the use of technology to deliver savings and efficiencies in the insurance value chain. While the primary drivers of insurtech are those firms which were established to nurture an insurtech proposition, more traditional insurers have also become more active in this space too. In many instances traditional insurers are collaborating with insurtechs and there have been many instances where insurers have acquired insurtech firms with a view to bolting-on those new technology-led capabilities. As well as this, advances in technology have made entry into the insurance market more attractive to firms whose main interests lie outside the sector.