In 2016, with the foundation of FinTech Istanbul, an independent organisation supported by Interbank Card Center of Turkey, the Turkish FinTech ecosystem has started to develop and receive attention internationally. Currently, there are more than 200 FinTech companies operating in Turkey and investment made in these companies increased to $28 million in 2016 compared to $9.6 million in 2015. A majority of these FinTech startups are providing innovative payment solutions. According to Startups.Watch, there are 12 active InsurTech companies that raised $2.1 million investment in the last 2 years. This shows that the InsurTech market is still untapped in Turkey. However, the industry has the potential to prosper with the recent positive developments enabling FinTech companies to operate in a more supportive environment. Investment Support and Promotion Agency of Turkey (ISPAT) states that the insurance market is still underpenetrated compared to other countries. As of 2015, there are 61 active insurance and retirement pension companies in Turkey. Among these, 37 are non-life insurance, 4 are life insurance and 19 are pension companies while 1 is a reassurance company, for a total of insurance sales of nearly TL31 billion in 2015. The growing young and tech savvy population in Turkey requires sophisticated financial products and services meeting their needs and expectations well. Like the FinTech wave has been taking the Turkish banking and financial services industry since 2016, InsurTech can be the next trend that will disrupt and improve the insurance industry. By analysing the overall insurance market and interviewing experts from large incumbents and InsurTech startups, I am hoping to find the answers for what the Turkish InsurTech industry needs to grow, the challenges it faces and the opportunities it offers. Author: Melike Belli Follow: @MelikeBelli