By FINTECH Books Contributor, Andrea Silvello Follow: @SilvelloAndrea Even in today’s connected world, the insurance agent or broker remains the most diffused means for selling non-compulsory insurance coverage to potential customers. This statement is (and will remain) imperative in the insurance industry: .“Insurance is sold, not bought!” Customers often have difficulties in understanding the value offered to them by insurers when a claim occurs because of complicated contracts that are difficult to follow. They do not feel like they are getting customized offers that fit their needs and realities. Not only customers are under-insured, they are also unaware of their potential needs for coverage. Push mobile micro-insurance is a very good example of how InsurTechs have found a solution to the anti-selection issue that troubles the micro-insurance space. This new approach to selling insurance manages to address existing challenges by utilizing digital (mobile) channels for communication, registration, payment of premiums and claims processing (claims submission and claims payouts). A concrete way to handle usage-based needs by covering specific risks for specific periods of time. A “Virtual Insurance Agent”, an InsurTech-specific platform that exploits the customer’s context in order to suggest the right cover at the right time, will be the next level of interaction between insurers and customers. It delivers utility and always helps the customer with a simple and tailored offer. The potential of micro-insurance to revolutionize the insurance sales process is very high. In addition it could help reduce the protection gap and it can be a way to target millennials with limited financial education and low trust in traditional intermediaries. The main scope of micro-insurance is to deliver innovation to customers who seek it. At the same time it helps the insurer get more insight on the individual client so that it can address his or her needs without second-guessing.