The Perils and Promise of Insurtechs
Reinsurers are finding new routes to the customer, both through primary clients and by creating alternative brands.
Insurtechs typically fall into one of three categories: distribution, risk-bearing carriers or focused service providers filling holes in the value chain.
For some insurers, working with insurtechs allows them to pursue innovation without disrupting core operations.
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.
Funding is up for insurtechs, but the number of new entrants is declining.
