The tech family: Fintech, Insurtech, Proptech, Regtech. What do they mean and why are they so popular?

The ‘Tech’ family grows exponentially. We constantly hear the terms Fintech, Insurtech, Propertech, Regtech, among others. Their popularity is not without good reason, as technology has permeated a large part of the industries, allowing the adoption of these terms to name the new activities, experiences and models that are being used in the business world.

You may want to know how these terms came about and why they became so popular. If so, here is a brief explanation.

Fintech: Finance + Technology

Probably one of the best known “–tech” neologisms is Fintech. This term is used to refer to projects that seek to transform financial and banking services by applying the disruption of new digital technologies. This term encompasses a broad range of solutions: methods of payment, data-based decision making, customer service through chatbots and hyper-personalized AI-powered services that can learn from customer patterns.

Insurtech: Insurance + Technology

According to Investopedia, Insurtech refers to the use of technological innovations that are designed to squeeze out savings from the current insurance industry model and increase…