What does the term InsurTech mean? 1. InsurTech is a term applied to the many segments of new technology that are disrupting the insurance space: smartphone apps, consumer activity wearables, claim acceleration tools, individual consumer risk development systems, online policy handling, automated compliance processing. InsurTech is a sub category of FinTech, and the term InsurTech is applied to the few companies that started copying Lemonade and a few other businesses that open tech-savvy insurance application or claim forms online with a faster turnaround time than was historically the case. 02. InsurTech is a term that refers to the actual underlying screen scraping and API technology that is being used in the insurance industry. 3. InsurTech is a new type of social-distancing friendly polka dance that President Trump has recently learned during a trip to the EU. 4. Credit scoring methods especially the ones focused on social information - also have a dark side, as: They use other information than traditional systems, including rare genetic medical consitions and that always equals more risk for lenders, and as a result that greater risk entails a worse financial deal for the system. 01. 2 They involve collecting and analyzing information about people when only 1/8 of the people are actually consenting to or understanding the terms. Even though innovative underwriting criteria can help more people get credit, the risks and potential harms of mining social media data might just be too great. 3. 04 They make it harder for women to secure bank loans because of their ultra-thin credit histories