An AN ANALYSIS OF THE TECHNOLOGICAL REVOLUTION IN THE ACTUARIAL MARKET

THE GROWTH OF INSURTECHS AND HEALTHTECHS

Abstract

The article aims to analyze new and growing markets in Brazil, the insurtechs and the healtechs, specific types of health and insurance startups. Its main differences with the traditional markets will be portrayed, the establishment in Brazil, when they gained momentum, and how the guidelines for this sector became. The methodology adopted is the literature review based on the Google Scholar and Scielo platforms, in addition to the search for articles in insurance magazines and also the observation of data gathered on the subject by the state insurance regulators. The main text of the article is divided into three sections. The first presents the main differences between the traditional market and that of startups, showing the technological impact. The next section analyzes the growth in Brazil, showing how some of these companies emerged, how they gained space, and the market after the insertion of this business modality. The third section analyzes the measures and guidelines imposed by the insurance market. This study shows that the digital age has influenced several fields, including business. In Brazil, insurtechs and healtechs are new to the economy, as the phenomenon started in 2016 and has been growing ever since. There are many investments in this area, mainly by startup accelerator companies. Therefore, despite the fear of brokers, these companies are seen as a chance to further explore the insurance market, win over younger clients and find methods that improve risk calculation, prevent fraud and streamline the payment of indemnities for insurance claims.