Venture Capital, Traditional Insurer Interest in Insurtech Remains High

By | August 24, 2016

  • September 9, 2016 at 12:15 pm
    Barry Rabkin says:
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    “Insurtech, for the purposes of the report, is defined as “companies creating new underwriting, claims, distribution and brokerage platforms, enhanced customer experience offerings, and software as a service to help insurers deal with legacy IT issues.”

    Yet another inane and ridiculous definition. InsurTech means technology firms selling their technology solutions to insurance firms.

    What we are witnessing are (re)insurers investing in technology-enabled solutions to replace their legacy capabilities and/or create new solutions to get and keep customers. Nothing “InsurTech” about it unless the (re)insurers engaged in these efforts are also selling their new technology-enabled solutions to other insurance firms.

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