tion come from their innovative business models and compel- ling value propositions. Collaboration is the biggest opportunity of all. Given the en- abling role InsurTech firms can now play, as well as the chal- lenges facing the established insurance sector and the barriers to entry for new businesses seeking to act alone, collaboration for mutual benefit – and the benefit of the customer – must be the goal of insurers and InsurTechs alike. Contrasting cultures present both a hurdle and a learning op- portunity. Insurers and start-ups can learn from the way each operate, but preventing culture clashes is crucial in the collab- oration process. 5