The Perils and Promise of Insurtechs
Funding is up for insurtechs, but the number of new entrants is declining.
Among the largest insurers, building a stake in the insurtech movement takes various forms, including direct investment, acquisition and supporting tech accelerators.
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.
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.
