Insurtech goes niche 🔎 is investor bullishness on embedded insurtech warranted and more
A new perspective on an old-established industry. Find latest report, news and information about startups and innovations in the insurance industry, with a focus on best #insurtech initiatives and venture capital investments.
Insurtech goes niche
Many general insurance technology companies have struggled over the past year. As Alex Wilhelm points out in Friday’s Equity podcast: Root has zeroed out value, and Metromile subsumed into Lemonade, which has lost most of its value.
Since broad-based consumer neo-insurance providers have failed to generate value, will the niche players do better? While we don’t know the answer to that question, we do know that investors seem to be digging the niche insurtech players.
Must-read stories
Is investor bullishness on embedded insurtech warranted?
Embedded insurance — selling coverage at the same time as another product or service — is on the rise. Are investors bullish on the insurtech subsector? Read more.
InsurTech Lemonade launches in UK with Aviva support
Lemonade (NYSE: LMND), the insurance company powered by AI and social impact, today launched in the United Kingdom. Residents across the UK can now get Lemonade Contents insurance instantly, from anywhere, on any device, as well as file claims and get paid in seconds. Read more.
Anti-Fraud Innovation Is Critical to the Digital Claims Journey
Customer expectations for faster, more convenient service have been key drivers of innovation for insurers. But another consumer trend is also affecting change—lax attitudes about insurance fraud.
Consumers have been showing increasing tolerance for fraud in recent years. This shift comes at an interesting juncture—fraud is increasing, and insurers are paying claims quicker and easier thanks to digital acceleration. In fact, some insurers are pushing toward straight-through claims processing.
But convenience and improved customer experience can’t be at the expense of a strategic defense—especially considering the rising cost of fraud. Recently, the Coalition Against Insurance Fraud reported that fraud costs the industry a staggering $309 billion annually. That figure, along with digital trends, makes it more critical than ever to invest in advanced anti-fraud technology.
Reports and Studies
Insurtech Market growth by 2030
“According to the research report published by Polaris Market Research, the global insurtech market was valued at USD 3.75 billion in 2021 and is expected to reach USD 145.03 billion by 2030, to grow at a CAGR of 50.4% during the forecast period."
Recommended by LinkedIn
Post of the week
One of the most important things is to focus on simplicity and customer experience especially for #insurance #banks. Most of the times #insurtech #fintech offers better solutions than the incumbents #startup. Via @insurtechforum
Investment and Startup Use Cases
Stere raises $5m from alternatives & re/insurance investor Vida Capital
Stere, an insurance technology (insurtech) start-up that has created a capacity platform to help connect embedded insurance partners and MGA's to Read more.
Insurtech SaaS firm Zopper raises $75 million in series C funding led by Creaegis
The funding comes after almost eight years from its last round from Tiger Global in 2015 where it raised around $20 million. In fact, in 2018, payments company PhonePe bought the point-of-sale (PoS) business of Zopper, which then shifted its focus to Insurance SaaS development. Read more.
Web3 Insurtech Startup Seeks to Disrupt Insurance After $4.5M Raise
YAS is a Hong Kong-based Insurtech company specialising in affordable and flexible insurance products designed for the next generation of customers. Insurtech refers to the use of emerging technology solutions to reduce the cost of acquiring insurance solutions while making the process easier and more convenient from a customer’s perspective. The company uses a decentralised blockchain platform to make the whole process from application to claims processing faster. Read more.
Insurtech Digest Back Issues
Issue 127 is out - Rethinking insurance: how prevention is better than a claim, embedded insurance focus and more
Issue 126 is out - Most Innovative Companies 2022: None insurance into the list
Issue 125 is out - Travel insurance Outlook, Smart Home and Global Business Ecosystems 2030 – Market Size and Potential
Look at Letterhead archive Read more.
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Have a nice day!
Alberto
A Social #Entrepreneur | Man of Excellence #Award Winner 2022 🏆| #MSMEs #Consultant | #Insurance & #Reinsurance | #Financial #Portfolio #Management | #Succession Planner | #Insurtech Innovator | Low Code & Visionary..
2yAlberto Garuccio, In my view we have niche & unique propositions available in the market with Pay-U, Turtlemint, Lemonade, AIG, Pie Insurance, CoverTree, Boundless Rider, Metromile, ENSUREDIT, Zooper, Cover Genius, SecureNow Insurance Broker etc., etc. Just need to look at promoters & product capabilities, you will find many such startups really struggling to raise funds! I strongly believe “Businesses are not meant to be built-up profitable in couple of months/ years but it take decades to build a successful & full-proof business”. but Riches are possibly looking for fast & higher ROI and are lacking in patience! Insurtech Insights India Insurtech Association INSURANCE FOUNDATION OF INDIA Insurance Innovators Insurtech Groups #insurtech #insuranceindustry #insuranceclaims #insurance #insurancebrokers #claimsmanagement #startup #startupindia #startupecosystem #startupfounders
Responsable éditorial du média Digital & Assurance | 🧐 Un œil sur toutes les dernières tendances Assurance, Innovation & Insurtech
2y"Riches are in the niches" and insurtech seems to understand that ! Thanks for the insights, once again, Alberto 🙏