Insurance falling behind on fintech
Number of fintech patents from insurance show lack of innovation compared to other financial institutions.
There were 6,652 patents filed globally for insurance fintech in 2015 compared to 50,446 filed in the payments sector.
In the banking sector, which had the second highest number of patents, 21,571 were filed.
A report by patent analysis, IP intelligence, portfolio management and technology transfer specialist Relecura, showed that insurance was behind payments, banks, wealth management and capital markets when it came to fintech patents filed.
The global brands who submitted the most patents
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