Financial Technologies in the International Trade in Insurance Services

Abstract

Application of innovative technologies in the sphere of finance requires new mathematical models, which are used in IT and are based on the growing number of new ways of collecting information, processing big data banks and using the Internet. In order to cope with their tasks local and foreign insurance companies have been applying new financial technologies (fintech). This requires serious and highly professional attitude since very often in order to streamline the financial processes a company needs to increase the efficiency of the technologies it is already using by improving its business processes.