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.
Among the largest insurers, building a stake in the insurtech movement takes various forms, including direct investment, acquisition and supporting tech accelerators.
For some insurers, working with insurtechs allows them to pursue innovation without disrupting core operations.
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.
