The Perils and Promise of Insurtechs
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.
Insurtechs have attracted the attention of insurers, with some insurers content simply to observe.
For some insurers, working with insurtechs allows them to pursue innovation without disrupting core operations.
For many insurers, the most important takeaway from dealing with insurers is exposure to faster-moving, adaptive cultures that embrace, rather than reject, change.
Among the largest insurers, building a stake in the insurtech movement takes various forms, including direct investment, acquisition and supporting tech accelerators.
