Fintech joins Insurtech in Lisbon

Over a dozen insurance companies and a clutch of technology startups learnt about 70 innovative tech products from insurance to distribution at the presentation of a new study ‘Insurtech Solutions and Trends”.

The event which took place at Fintech House in Lisbon last week attracted insurers, insurance brokers and insurance intermediaries to the event.
The Director of Fintech Solutions, António Veiga Ferrão – a consultancy set up just under a year ago by Portugal Fintech – said: “Insurers want to know what’s out there and how to find a relevant partner… “particularly cooperations with startups” at the event which joined Insurtech entrepreneurs and insurance companies to “exchange experiences”.
The face-to-face event at Fintech House in Lisbon, a co-working space and innovation incubator in the centre off the city’s Avenida da Liberdade, included the attendance of representatives from the main insurers such as Fidelidade, Allianz, Tranquilidade, Victoria Vida, Bankinter Vida, Lusitania and Cosec, among others.
There were also insurance brokers and intermediaries as well as startups at the event which were also interested in the study ‘Insurtech Solutions and Trends’.
Among the ongoing trends is Predictive Analysis used by insurers to collect data to help them understand and predict customer behaviour, Artificial Intelligence (AI), Machine Learning, Internet of Things (IoT), Insurtech (which leverages the latest insurance technology to reduce customer and insurer costs), Blockchain Data which will be used in fraud detection and prevention, and in improved processing, Social Media Data, Telematics (car monitoring devices), Chatbots, Low Code technology, and Drones.
The event enabled insurers to make contacts with entrepreneurs and learn about use cases selected for the launch of the report which is available on the site Fintech Solutions. www.portugalfintech.org