Insurtech – Thematic Research
Following a few years of high-level investment, high valuations, and high pressure on insurtechs, 2022 has marked the start of a reality check for the sector. As the economic situation across the world takes on an increasingly bleak outlook, pressure is now on leading insurtechs to show signs of profitability with investor finance in shorter supply.
The effect of the insurtech phenomenon on the wider insurance industry is clear to see. New product development and evolution have allowed startups to target unserved or underserved segments of the market with novel approaches to insurance.
Key Trends
The key trends that are impacting the insurtech theme can be classified into three categories: technology trends, macroeconomic trends, and regulatory trends.
- Technology trends – The key technology trends impacting the insurtech theme include AI, IoT, big data, blockchain, cybersecurity, and SaaS and legacy system transformation.
- Macroeconomic trends – The key macroeconomic trends that will shape the insurtech theme are economic downturn, digitalization, inflation and the cost-of-living crisis, China, generation rent, gig and sharing economies, and personalization.
- Regulatory trends – The key regulatory trends impacting the insurtech theme include cybersecurity and data protection regulations.
For more insights on key trends shaping the insurtech theme, download a free report sample
Insurtech – Industry Analysis
The insurtech market between 2020 and 2021 was characterized by huge company valuations, created through both public and private funding. Despite the pandemic, investments and deals related to the insurtech theme increased in 2020 and 2021.
The insurtech industry analysis also covers:
- Mergers and Acquisitions
- Venture Financing
- Use Cases
- Timeline
Insurtech - Value Chain Analysis
GlobalData’s insurance industry value chain consists of five segments: product development, marketing & distribution, underwriting & risk profiling, claims management, and customer service.
Product Development: Innovative product development is one of the key methods in which insurtechs look to stand out from the incumbent competition. New technologies and the expertise of startups surrounding these technologies have allowed new and creative solutions to emerge as well as the evolution of existing products aimed at targeting specific segments of the market.
Insurance Industry Value Chain Analysis
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Leading Disruptors
The leading startups that offer insurance products are Alan, By Miles, Dead Happy, and Descartes Underwriting, among others.
To know more about the leading disruptors associated with the insurtech theme, download a free report sample
Leading Collaborators
The leading digital startups that provide digital platforms, technological tools, or SaaS to insurance companies are Allianz, Aon, Baoba, and Charles Taylor, among others.
To know more about the leading collaborators associated with the insurtech theme, download a free report sample
Life Insurance Sector Scorecard
At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecards have three screens: a thematic screen, a valuation screen, and a risk screen. The life insurance sector scorecard has three screens:
- The thematic screen tells us who are the overall leaders in the 10 themes that matter most, based on our thematic engine.
- The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
- The risk screen ranks companies within a particular sector based on overall investment risk.
Life Insurance Sector Scorecard – Thematic Screen
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Insurtech Market Overview
| Report Pages | 62 |
| Regions Covered | Global |
| Key Trends | Technology Trends, Macroeconomic Trends, and Regulatory Trends |
| Value Chains | Product Development, Marketing & Distribution, Underwriting & Risk Profiling, Claims Management, and Customer Service |
| Leading AI Disruptors | Alan, By Miles, Dead Happy, and Descartes Underwriting |
| Leading AI Collaborators | Allianz, Aon, Baoba, and Charles Taylor |
Reasons to Buy
- Identify leaders in insurtech across a variety of disciplines.
- Determine how leaders use modern technologies to drive efficiency and reach new consumers.
- Recognize how incumbents are collaborating with insurtechs to improve their product offerings and customer experience.
- Evaluate the strength of investment into the insurtech theme and ascertain the drivers behind changes in investing
Key Players
Table of Contents
Frequently Asked Questions
The key technology trends impacting the insurtech theme include AI, IoT, big data, blockchain, cybersecurity, and SaaS and legacy system transformation.
The key macroeconomic trends that will shape the insurtech theme are economic downturn, digitalization, inflation and the cost-of-living crisis, China, generation rent, gig and sharing economies, and personalization.
The key regulatory trends impacting the insurtech theme include cybersecurity and data protection regulations.
GlobalData’s insurance industry value chain consists of five segments: product development, marketing & distribution, underwriting & risk profiling, claims management, and customer service.
The leading disruptors in the insurtech industry are Alan, By Miles, Dead Happy, and Descartes Underwriting, among others.
The leading collaborators in the insurtech industry are Allianz, Aon, Baoba, and Charles Taylor, among others.
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