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.
Funding is up for insurtechs, but the number of new entrants is declining.
For many insurers, it's easier to authorize a larger investment in an insurtech than it is to integrate its technology.
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.
For some insurers, working with insurtechs allows them to pursue innovation without disrupting core operations.
