In our information-driven era, no sector is immune to digital disruption, and this includes the once staid world of insurance. Just as financial services has been forced to grapple with a slew of new potential competitors (and partners) from fintech, established insurance giants have seen their business impacted by insurtech upstarts. In a recent episode of the McKinsey on Insurance podcast series, a panel of McKinsey leaders discussed how insurtechs are driving innovation and disruption in the insurance industry. Senior partners Pradip Patiath and Tanguy Catlin, along with partners Alex Kimura and Simone Kaesler, weigh in on rising valuations, examine how insurtechs can learn from established insurance companies, look at both the benefits and challenges of collaborations, and comment on trends impacting insurtechs in various markets globally.