InsurTech

InsurTech is tech-first insurance — digital-native underwriting, claims, and distribution. The wedge varies by player: Lemonade automates home/renters claims with ML so simple cases pay out in minutes instead of weeks; Root prices car insurance off a few weeks of actual driving data from your phone rather than demographics; Metromile charges per mile. The industry changes slowly because insurance is deeply regulated per-state and the actuarial models behind incumbent pricing took decades to tune, so most InsurTech wins are in UX and niche data rather than fundamentally cheaper risk pricing. That's why many "InsurTech" companies end up partnering with or reselling traditional carriers underneath.