The key to understanding InsurTech is to remember that the term covers two fundamentally different types of business. Distribution InsurTechs: These companies are trying to acquire customers through distribution and proposition innovation. They need (re)insurers as capacity providers. Supplier InsurTechs: These companies are developing technology which could help insurers, reinsurers or brokers do business more effectively. They cluster around a few areas in the value chain, shown in our illustration below. They require insurers, reinsurers and brokers as customers. The following picture shows the InsurTech Impact 25 Members along the value chain.

https://www.oxbowpartners.com/2018/distribution-vs-supplier-insurtechs/