b'TECHNOLOGY|TECHNOLOGY TRANSACTIONSThe contracting approach for these collaborations is evolving. While some can be approached from a traditional service provider/recipient construct with one party providing services on a business-to-business basis, other collaborations involve both parties interfacing directly with the customer. These agreements require more careful consideration of each partys rights, roles and responsibilities, including with respect to the end customer. Other key topics in insurtech-incumbent collaborations include the parties obligations with respect to compliance with law and each partys rights to use or monetize data generated from the collaboration.ConclusionOver 2021, AI and disruptive competition continued to increase the value of data on the cloud, and thus the investment in migrating to the cloud, while the migration of critical functions to the cloud continued to increase the amount of data gathered and the power of AI and technology collaborations. We expect this positive-feedback loop to continue to increase the role of cloud, AI, data and collaboration for years to come.130|Global Insurance Industry Year in Review 2021'