The insurance value chain offers big techs many opportunities to enter into the insurance market.The value chain spans product design, pricing, underwriting, marketing, sales and distribution, claimsmanagement and post-sale policy servicing. Big techs can leverage their technological advantages, forexample in data analytics or artificial intelligence, and their access to large datasets to offer services in anypart of the insurance value chain, either as licensed insurance entities, in partnership with incumbentinsurers or as service providers. While this development can bring benefits to insurers in terms ofoperational efficiency or expanded market reach, and to consumers through improved customerexperience and convenience, it can also give rise to new risks such as excessive market power or concentration in a handful of big techs.