The insurance industry, historically characterized by its conventional practices, is undergoing a profound transformation fueled by technological advancements. The emergence of Insurtech, a portmanteau of “insurance” and “technology,” is significantly reshaping the landscape of insurance by introducing innovative solutions such as usage-based insurance and digital platforms. This blog post aims to comprehensively explore various facets of Insurtech, delving into how these technological advancements are ushering in a new era of personalized and cost-effective insurance solutions. I. The Rise of Insurtech: A. Definition and Scope of Insurtech: Insurtech encompasses a wide array of technological innovations aimed at enhancing and modernizing the…