While Fintech is relatively pervasive in banking and capital markets, it is still
 nascent in insurance. In 2014, tech companies targeting the insurance space received less than $800 million in funding, but in 2015 insurance tech start-ups attracted more than three times that, receiving approximately $2.6 billion. Most insurers are still tied to a business model based on pooling risk, calculating average pricing and generating gross premium income, which is increasingly threatened by digital technologies, such as wearable devices, smart objects and connected cars. However, these technologies also offer insurers a new, rich data source, providing new possibilities for underwriting, enhancing the customer experience and cutting costs.

InsurTech Investment Triples - Insurtech Investment Trends

Learn more about the changing landscape of investment in Fintech and InsurTech by reading the full report & John Cusano’s series.

Submit a Comment

Your email address will not be published. Required fields are marked *