CII Certificate in Insurance - Award in General Insurance (non-UK) (W01) Practice Test

"Insurtech" refers specifically to technology innovations designed to improve and streamline the insurance industry. It encompasses a broad range of technological developments that enhance aspects of insurance, from underwriting and claims processing to customer service and distribution channels. This focus on leveraging technology to optimize operations makes insurtech a critical component in the evolution of the insurance sector.

The other options do not fully capture the essence of insurtech. While insurance policies that include technology products relate to some aspect of the insurance market, they do not represent the overall intent and scope of insurtech. Similarly, traditional insurance practices adapted to modern needs imply more of a gradual evolution rather than a focus on innovative technology. Lastly, investment strategies within the insurance sector primarily concern financial maneuvers rather than the technological advancements that define insurtech. Thus, option B provides the most accurate and comprehensive understanding of what insurtech is.