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.
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.
Among the largest insurers, building a stake in the insurtech movement takes various forms, including direct investment, acquisition and supporting tech accelerators.
For many insurers, it's easier to authorize a larger investment in an insurtech than it is to integrate its technology.
