ABSTRACT
Technology in finance has propelled financial literacy and inclusiveness and may give the insurance sector an edge to reach its potential consumers. The current study aimed to identify the role of Fintech in transforming the insurance sector and improving the penetration rate in India. With the descriptive research design, the study collects the primary data through a survey technique targeting the general public and personnel in the insurance sector as a study population. A conceptual model is proposed to understand the interlink between consumer attitude towards Insurance, factors influencing their decision, and the role of Fintech in bridging the gap in insurance penetration. This study focuses on three areas, namely health insurance, life insurance, and vehicle insurance. The study’s findings reveal that the insurtech will significantly improve the efficiency of the insurance sector which will result in significant financial performance.
