The Perils and Promise of Insurtechs
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.
Reinsurers are finding new routes to the customer, both through primary clients and by creating alternative brands.
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.
For many insurers, it's easier to authorize a larger investment in an insurtech than it is to integrate its technology.