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The United States insurance industry is experiencing a rise in technology-driven innovations, with a particular focus on data analytics and artificial intelligence. This has led to the emergence of numerous Insurtech startups and attracted significant investments in the sector. The market is expected to continue growing at an impressive rate, with a CAGR of 25.9% predicted for the near future. Insurtech companies are able to provide customers with tailored plans through the use of digital technology, making them more appealing to businesses. The market has become increasingly competitive with the entry of smaller, regional firms and the formation of alliances with banks and other financial institutions.