The Perils and Promise of Insurtechs
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, 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.
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.
