A combination of “insurance” and “technology”...i.e. the absolute last topic you want to come up at a cocktail party.
The idea is to use cutting edge technology to get the most out of the insurance industry. Tap algorithms and apps to cut costs and exploit inefficiencies. Leverage robots and the Internet to speed processing and improve customer service.
Insurtech is like a burger-flipping bot...but for insurance. Google "McFlipper" for details.