Abstract:
Industries are focusing on innovation to ensure survival in this competitive world.
Fintech, which has emerged as the result of such innovation, is a modification,
enhancement, and automation offinancial services. Fintech is an emerging business
sector that is on the road to eliminating traditional banking, which has been in
operation for many years.
• Since technology has evolved every business line in the world, our objective is to
analyze the influence oftechnology on the profitability ofthe insurance sector.
• TPL Corporation, which is the company of our interest, recently joined hands with
a fintech company named Finja. The financial statements of TPL before and after
this adoption of fintech have been compared in order to evaluate its effects on the
profitability ofthe company.
• The tools that provided assistance for the evaluation offinancial statements are the
financial ratios. Various ratios insurance industry-related in particular are
calculated to have the best image of the impact of Fintech on the performance of
the company.
• Unfortunately, the company adopted Fintech during the era ofCovid- 19. Form the
result findings; it is concluded that the company adopted Fintech in such times in
which every industry was on the verge ofcollapse. Working conditions were so bad
that their after-effects can be observed to the present date.
• It is predicted that the positive impact of Fintech on the profitability can be
observed in the coming 2-3 years.
