Insurers face increasing threat from InsurTech start-ups

An InsurTech can be described as a firm or a specialist that uses technology to either compete in, or provide solutions to, the industry. Jonathan Howe, UK insurance leader at PwC, said: “There is an ever-increasing threat from start-up InsurTech companies which are setting the benchmark for communicating and analysing customer needs and breathing down the neck of incumbents.