The Perils and Promise of Insurtechs
Funding is up for insurtechs, but the number of new entrants is declining.
Insurtechs have attracted the attention of insurers, with some insurers content simply to observe.
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.
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.
Reinsurers are finding new routes to the customer, both through primary clients and by creating alternative brands.
