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.
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.
Among the largest insurers, building a stake in the insurtech movement takes various forms, including direct investment, acquisition and supporting tech accelerators.
