PWC has noted the need for insurers and reinsurers to develop and implement focused InsurTech strategies, in light of advancing technology and the ongoing maturity of the InsurTech space.

According to PwC, InsurTechs are impacting the insurance and reinsurance industry in numerous ways, including the transformation of the existing value chain, enabling new capabilities, innovating new products, and also breaking boundaries beyond re/insurance.

Read the entire report here on PWC site.