The PWC report – Top Insurance Industry Issues in 2016 – states that the insurance-specific branch of FinTech, InsurTech, is emerging as a game-changing opportunity for insurers to innovate, improve the relevance of their offerings, and grow. In 2013, the total funding for InsurTech companies was US$600 million. That figure surged to in excess of a staggering US$1.4 billion in 2015.