What you need to know: Fintech has been transforming the financial services sector. In 2016, Insurtech became a new buzzword, inside the insurance industry. Digital Risks, a London-based Insurtech startup, focuses on offering insurance for digital businesses. It offers customised insurance packages, depending on the needs of the digital SMEs. The thrust of the company is to expand its business worldwide in the next five years.

Why it is important: Insurtech is still in its initial stages. Yet, with new startups like Digital Risks, business insurance can become interactive and real-time. There are many opportunities for insurtech firms.

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