Like the traditional financial banking industry, the insurance industry has not seemed to have changed much over the years. However, InsurTech is trying to revamp the industry from innovations in tech that will allow them to provide value added processes for customers. Efficiency is one area that can be improved to help engage the customer. Anywhere from claims to policy management, a seamless experience can be provided for the customer. Insurers have historically dealt with a lot of data that has to be recorded and analyzed to draw conclusions from. Automation and artificial intelligence will allow insurance carriers to have the tools to make better and quicker decisions. In terms of a distributed ledger technology, insurers are looking into this area which may allow for automation in claims. Ultimately, technology that has helped make other industries more efficient with machine learning, language processing, and better data management is allowing insurance to improve. In addition, InsurTech companies will be able to segment the market to offer niche products. Interestingly, Slice launched an insurance product for users of AirBnbB, the homesharing service. Whether a new insurance companies dominate the market in the future, or current insurance companies implement new technology into their business, I believe this will be very useful and efficient for customers.