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Just as other incumbent industries such as banking have had to do, the insurance sector is learning to adopt and adapt to a digital future. Although the industry got off to a slow beginning, there have been over 1.5 thousand insurtech start-ups funded worldwide since 2008. Insurtech companies’ primary business involves the novel use of technology in order to price, distribute, or offer insurance directly. Several technologies such as artificial intelligence, big data, and connected devices are all making insurance a far more concise, and individualized process for both insurance providers and consumers.