By FINTECH Books Contributor, Ales Rod Follow:@ales_rod Global insurance sector faces a FinTech revolution based on disruptive innovations. New technologies have brought challenging business opportunities, easy scalable to international markets. Traditional “insurance moguls” must deal with small and efficient startups and sharing economy ideas, using changing behavioral patterns in a digital world as their advantage. Our company ePurse Solutions s.r.o. from Prague, Czech Republic, is one of these startups. This has led to the process of disintermediation of insurance companies’ services. Based on our professional experiences and extensive market analyses, we have identified main strengths, weaknesses, opportunities and threats of the insurance sector and defined a new business model of an insurance company for the 21st century. The model is based on four pillars: loyalty program for higher clients’ retention more efficient segmentation of clients and risk management, product cross-selling, geolocation and proximity marketing. A crucial tool connecting online-offline world with clients’ needs is a unique product mix consisting of prepaid payment tools (especially wearables), mobile communication and loyalty programs. We see an efficient KYC process as a key for an insurance company competitive with FinTech solution. Increasing sales of life, travel and accident insurance products will follow appropriate LBA and LBS strategies. Customers don´t want to pay a traditional life insurance with capital component, they want to enjoy life under insurance against ad hoc risks. The EPS system combines this approach with payments, loyalty and proximity marketing solutions with emphasis on contactless solutions.