InsurTech is a blend of insurance and technology, aimed at improving and modernizing the insurance industry. It uses innovative tools like artificial intelligence, big data, and blockchain to streamline processes, making it easier for customers to buy policies and file claims. This technology helps insurers assess risks more accurately and offer personalized coverage options. By leveraging mobile apps and online platforms, InsurTech companies provide a more user-friendly experience for consumers. They can compare different insurance products quickly and access services anytime, anywhere. This shift not only enhances customer satisfaction but also encourages competition, leading to better prices and services in the insurance market.