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.
Funding is up for insurtechs, but the number of new entrants is declining.
For some insurers, working with insurtechs allows them to pursue innovation without disrupting core operations.
Insurtechs have attracted the attention of insurers, with some insurers content simply to observe.
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.
