The insurance industry is vast and varied, with the earliest references dating back as early as 1750 BC. Modern insurance, however, started around 1686 with Lloyd’s of London and with the U.S. founding its first fire insurance company in 1732. In many regions, personal lines insurance is already adopting features like self-service platforms and paperless policies, working with aggregators and automated quotes, not to mention automating claim handling with same-day payments. But commercial insurance is much more complex and has some challenges.
Source: https://www.helpnetsecurity.com/2021/04/30/api-insurance-data/