The world of insurance technology is evolving quickly, with new entrants, niches and innovations emerging all the time. This makes for an interesting space for venture capital investment, but also a difficult one to navigate.

How can we make sense of this burgeoning sector? Part of the answer is through a framework. Instinctively I’m not a fan of the idea of frameworks. But as I explain in this article, it can be really helpful to categorise insurance technology companies according to the verticals in which they operate and the part of the value chain they fulfil – and frameworks are more fun when they come in a nautical theme.