Italy, one of the main European insurance markets, has a rich insurtech sector that has witnessed exponential growth on the back of booming investment and increasing collaboration with incumbents to develop innovative products and services.
Industry trade group Italian Insurtech Association identified more than 60 insurtech companies that operated in Italy as of Q2’2021, including foreign companies like Vlot, an enterprise software-as-a-software (SaaS) insurtech company, and Kasko, an insurtech-as-a-service platform from the UK.
These insurtech companies operate across eight main segments with Awareness, Research and Purchase being the largest category. Companies in this space primarily work as insurance intermediaries and have built ties with one or more companies. They interface directly with end-customers and allow users to receive information and advice on insurance products, as well as compare and purchase these services.
Prevention, Risk Management and Fraud is another…