InsurTech can address some big challenges: lack of consumer knowledge, lack of access to consumers, differing consumer needs, low trust, inexperienced customers and high-cost structures. However, InsurTechs tend to focus mainly on increasing access and lowering costs, and many are still stuck at the digitisation stage. There has been some movement away from MNOs, although there’s been a rise in partnerships with e-commerce and e-hailing platforms. Greater use of data and analytics includes machine learning and AI, chatbots, telematics and smart contracts.