Insurtech expands into smaller markets.

Technology is revolutionizing the insurance industry, allowing companies to offer affordable sachet products that are comparable to mutual funds. Insuretech platforms, such as Zopper, are instrumental in the distribution of these innovative products and the efficient handling of insurance claims. Zopper, having secured a substantial funding of $100 million, serves as a vital connection between businesses and insurers, with ambitious plans to achieve an annual recurring revenue of $300 million by 2024.

Insurtech is revolutionizing the insurance industry by tapping into previously untapped markets through sachet-sized policies. These small, affordable insurance policies cater to a broader population, including low-income individuals who were previously unable to afford or access traditional insurance coverage. Insurtech companies leverage technology to streamline processes, reduce costs, and customize policies to meet the specific needs of these underserved customers. By offering sachet-sized policies, insurtech is democratizing insurance, making it accessible to everyone and providing financial protection where it was previously lacking. This disruptive approach has the potential to significantly expand the insurance market, benefiting both customers and the industry as a whole.

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