The Perils and Promise of Insurtechs
Insurtechs typically fall into one of three categories: distribution, risk-bearing carriers or focused service providers filling holes in the value chain.
For some insurers, working with insurtechs allows them to pursue innovation without disrupting core operations.
Funding is up for insurtechs, but the number of new entrants is declining.
Reinsurers are finding new routes to the customer, both through primary clients and by creating alternative brands.
For many insurers, the most important takeaway from dealing with insurers is exposure to faster-moving, adaptive cultures that embrace, rather than reject, change.
