Europe is home to more than 700 million people versus 350 million in the US, making the European market, in terms of potential size, big. The big markets are Germany, UK, Italy and France, which represent the far majority of the European premiums and are therefore a preferred base for many InsurTechs.

InsurTechs can be split into two types of companies such as Disruptive InsurTech – InsurTech companies that disrupt insurers e.g. digital brokers, MGAs, price comparison portals etc. and Enabling InsurTech – tech companies who enable insurers to transform (e.g. IoT, security, software etc) by selling technology software to them.