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.
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.
Insurtechs have attracted the attention of insurers, with some insurers content simply to observe.
Reinsurers are finding new routes to the customer, both through primary clients and by creating alternative brands.