The Perils and Promise of Insurtechs
For some insurers, working with insurtechs allows them to pursue innovation without disrupting core operations.
Faced with a new work environment and changed customer expectations, insurers have looked to insurtechs for capabilities such as large-scale text messaging and distributed document management.
For many insurers, it's easier to authorize a larger investment in an insurtech than it is to integrate its technology.
Funding is up for insurtechs, but the number of new entrants is declining.
Because of their legacy and sheer size, most insurers' cultures make it difficult to act with agility. The nimble, focused nature of insurtechs can help insurers' respond.
