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Since 2011, the booming development of InsurTech has embraced a huge impact on the financial and insurance industries. Former researches fail (1) to whole draw the character and contribution capacity of InsurTech identification, and then, (2) to study the impact of InsurTech on the insurance industry and its transmission patterns. Based on these, I addressed an empirical research on InsurTech with non-equilibrium panel data from China from 2011 to 2018 to conduct a quantitative study on the role and influence path of InsurTech on the insurance industry. The results show that (1)the InsurTech has a significant impact on the liability side, the asset side and the risk-taking behaviour, and (2) the impact of InsurTech development inside companies are not independent, which provides a solid factual basis for the development and supervision of the insurance industry. [ABSTRACT FROM AUTHOR]