The Perils and Promise of Insurtechs
Funding is up for insurtechs, but the number of new entrants is declining.
For many insurers, the most important takeaway from dealing with insurers is exposure to faster-moving, adaptive cultures that embrace, rather than reject, change.
For some insurers, working with insurtechs allows them to pursue innovation without disrupting core operations.
Insurtechs typically fall into one of three categories: distribution, risk-bearing carriers or focused service providers filling holes in the value chain.
For many insurers, it's easier to authorize a larger investment in an insurtech than it is to integrate its technology.