Paper Title
Fintech and Insurtech: Importance in an Economy

Abstract
Fintech refers to computer programs and other technology used to support or enable banking and financial services. FinTech is one of the fastest-growing areas for venture capitalists. On the other hand, Insurtech represents the commitment to innovation and development of new products and services within the insurance sector. Thus, it means that Insurtech is the subdivision of fintech. The purpose of this paper presentation is to review the importance of fintech and Insurtech in development of an Indian economy. A review of various research was conducted around FinTech and Insurtechdevelopment in India as well as global level. The review of these findings brings out the present trends in FinTech and Insurtech services and its importance in the development of an economy. The data reviewed also brings out some challenges and areas that need to be focusedmore by the government, financial institutions and FinTech companies for the betterment. Keywords - Fintech, Insuretech, Economy