Share: The insurance industry isn't exactly synonymous with “cutting edge,” but that’s changing thanks to modern technology. Insurtech is completely upending the way the insurance companies operate and how consumers access coverage. Experts have several predictions for what 2021 holds in terms of developments in insurtech. Here’s a closer look at how the insurance landscape has in store this year. What Is Insurtech? Similar to financial technology companies that pioneered fintech, “insurtech” is a concept that combines “insurance” and “technology.” It’s a broad term that refers to innovations in technology and software that are meant to disrupt and improve the insurance world. Ultimately, the goal behind insurtech is to make insurance more cost-effective and efficient.