The Perils and Promise of Insurtechs
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.
Reinsurers are finding new routes to the customer, both through primary clients and by creating alternative brands.
Among the largest insurers, building a stake in the insurtech movement takes various forms, including direct investment, acquisition and supporting tech accelerators.
For many insurers, the most important takeaway from dealing with insurers is exposure to faster-moving, adaptive cultures that embrace, rather than reject, change.
