Insurance Companies are Embracing Emerging Technologies More than half of the insurers are actively monitoring FinTech to respond This year, PwC’s Global FinTech Survey revealed that in 2017, competitively more than half insurance companies deal with FinTech 58% whereas in 2016 32% of insurance companies surveyed didnotdealwithFinTechatall. Almost half of the insurers are already engaging in partnerships with FinTech companies Insurance companiesarenowturningtoFinTechto: 45% 01 Reach and serve their clients in a highly targeted One-third of the respondents are hiring services from FinTech companies to improve internal operations and services manner 30% CH 02 Quantify and identify risk through sophisticated data TE 21% of incumbents set up start-up programs to incubate FinTech companies N modelsandanalytics I F F O 21% TE TA S Source: PwC Global FinTech Survey 2017 E TH The Future of FinTech in Asia Pacific: InsurTech 71 71