Digital Challengers in Insurance – Thematic Research
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The insurance industry took longer to embrace the trend of digitalization than other sectors, such as banking. However, this is now undoubtedly one of the industry’s key trends. Incumbent insurers have showed improvements in recent years, but it is the rise of tech-savvy insurtechs that is forcing these changes. One of the key trends has been the rise in partnerships. This is due to the huge cost and regulatory requirements attached to underwriting, making it easier for insurtechs to specialize in certain areas and help insurers. Digital challengers have still caused a great deal of disruption, either by moving the industry forward and threatening to leave incumbents that do not interact behind, or by creating new lines or ways of constructing policies.
Scope
Global insurtech investment was just under $3.4bn in 2018, as the industry saw over 80% growth.
The number of deals also grew, but it was the average price of deals soaring that caused the significant increase in value.
Incumbents need to adapt and digitalize. as while startups do not pose a direct threat other incumbents choosing to partner with them could result in them being left behind.
Reasons to Buy
Benchmark yourself against the rest of the market.
Ensure you remain competitive as new innovations and insurance models begin to emerge.
Learn about the key trends that these digital players are targeting.
Willis Towers Watson
Arthur J. Gallagher
Marsh
AIG
Simply Business
Brolly
Tapoly
Datong Broker
Wrisk
Knip
Slice
Trov
AXA
Aviva
Zurich
Hiscox
Allianz
Chubb
Travelers
Tokio Marine
China Life
Sun Life Assurance
Zhong An
Lemonade
Oscar
Bought by Many
Metromile
MoneySuperMarket
Confused.com
GoCompare
Compare the Market
CompareXpress
CompareHero
Honcho
Policy Bazaar
Comparechecker
Cambridge Mobile Telematics
Oscar Health
Devoted Health
Bright Health
Medi Assist Healthcare Services
Gusto
Prima Assicurazioni
Collective Health
Root Insurance
Amazon
Samsung
Apple
By Miles
Cuvva
Fizzy
Jetty
Neos
Pitpat
Toffee
Vitality
dacadoo
DeadHappy
VouchForMe
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