The Perils and Promise of Insurtechs
For many insurers, the most important takeaway from dealing with insurers is exposure to faster-moving, adaptive cultures that embrace, rather than reject, change.
Funding is up for insurtechs, but the number of new entrants is declining.
Insurtechs have attracted the attention of insurers, with some insurers content simply to observe.
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.