Although there is no universally recognized definition of the term Fintech, what is certain is that this new term includes all digital innovations in the financial sector, regardless of which actor develops and delivers the product or service. More specifically we can also say that the term, in itself, derives from the contraction between Finance (Fin) and Technology (Tech) indicating, in its broadest sense, the supply of services and financial products through the most advanced technologies of the information (ICT).

However, Fintech is considered not only a revolution for financial institutions, but also for consumers who can benefit from greater transparency, thanks to more accurate analyzes and innovative credit access systems. Precisely in this sense, in fact, Fintech must be understood not as a threat or a danger, since it is based on the network, but as the evolution of the financial market itself, as companies operating in the Fintech sector have obligation to comply with the same regulations as traditional institutions. It must therefore be seen as the result of the improvement due to the new requests and needs of the end users.There are many new companies that have adhered to this trend and that are following the innovative folds of the market in the financial environment and it is for this reason that two concepts, Fintech and Start up, are closely and inseparably linked.

To link to the title of this article, the Fintech theme is often linked to that of Insurtech. In line with what has already been said for Technofinance, this neologism indicates the contraction between the concepts of Insurance and Technology. Insurtech can therefore be considered as a sub-branch of the Fintech, but with lines and aspects that instead highlight its very specific connotation and independence. In this case, in fact, we talk about everything that is technology-driven innovation in the insurance sector: software, applications, startups, products, services, business models. Although with times that are certainly more extended than in other areas, insurance companies are now adapting to the Digital Transformation. Moreover, in the same way as in the banking sector, the acceleration of recent times has also been conscious and important in the insurance sector, bringing with it the birth of many new start-ups.

Although there are so many players in the game, from the traditional ones, to start-ups to innovation giants such as Microsoft, Amazon, Facebook and Google, the prospects for the next five-year period are particularly rosy for the Fintech and Insurtech sector, with very high growth opportunities that will favor both companies and consumers themselves.

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