The Perils and Promise of Insurtechs
For many insurers, the most important takeaway from dealing with insurers is exposure to faster-moving, adaptive cultures that embrace, rather than reject, change.
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 typically fall into one of three categories: distribution, risk-bearing carriers or focused service providers filling holes in the value chain.
Insurtechs have attracted the attention of insurers, with some insurers content simply to observe.
For some insurers, working with insurtechs allows them to pursue innovation without disrupting core operations.
