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.
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.
Insurtechs have attracted the attention of insurers, with some insurers content simply to observe.
Funding is up for insurtechs, but the number of new entrants is declining.
