The Perils and Promise of Insurtechs
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.
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.
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.
Among the largest insurers, building a stake in the insurtech movement takes various forms, including direct investment, acquisition and supporting tech accelerators.
