20 As for insurance sector knowledge, a number of start-ups have founders with a background in the industry. Both RightIndem and Covi, for example, have founders who have been able to capitalise on deep industry expertise in order to offer their particular solutions. Incumbent insurers are less likely to expect start-ups offering new operational capabilities to have a significant impact on their businesses. However, assuming that insurers want more help solving the inefficiencies in their back offices and core processes, they need to encourage innovation – not least by setting out exactly which problems they regard as most in need of solving. The potential is clear – and the strides that back office-focused FinTech start-ups are already making in the banking sector of fi- nancial services is likely to see InsurTechs follow suit. “Over time, as the InsurTech ecosystem evolves and matures, we’ll see more solutions aimed at optimising the back office, with increasing focus on start-ups looking to disrupt the claims, underwriting and pricing processes,” says Dan Smith of MMI Holdings. “I certainly expect next year’s applications to Startupbootcamp InsurTech to include more start-ups focusing on process improvement and efficiency – utilising blockchain technology for example” adds Jonathan Howe of PwC. Over time, as the InsurTech ecosystem evolves and matures, “ we’ll see more solutions aimed at optimising the back office, with increasing focus on start-ups looking to disrupt the claims, “underwriting and pricing processes. Dan Smith, MMI Holdings