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.
Among the largest insurers, building a stake in the insurtech movement takes various forms, including direct investment, acquisition and supporting tech accelerators.
Insurtechs have attracted the attention of insurers, with some insurers content simply to observe.
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.
