The first, Willis Towers Watson’s Quartely InsurTech Briefing, looks at event-based, or parametric insurance offerings. The briefing includes a number of Q&As and profiles and the latest data on funding volumes, partnerships, and (re)insurer investment. If you missed the first two briefings from earlier this year, those PDFs are available for download here and here.
The second is an analysis of emerging technologies in P&C insurance using CB Insights’ new NExTT framework. That report is available here.
In 2018, startups providing software to the (re)insurance industry and/or distributing insurance in one form or another continued to drive investment to the tune of over $4.1B. Large investments accelerated as 28 companies raised $30M+ financing rounds in 2018 year-to-date.
In 2018, we also started to gauge how startup challengers are performing in the marketplace. There’s been some great analysis written on the strategies and challenges of full-stack insurance startups in the US. Meanwhile in China, Zhong An Insurance has been trading in the public markets for over a year as it looks to diversify its business away from some of its high-profile partners and shareholders.
In a few cases, we’ve even started to see some business transformation. Consider the recent merger of Lennar’s North American Title Group (NATG), the 8th largest title writer in the US by market share, and States Title, a two-year old startup, or the recently acquired majority stake of MassMutual Asia by Jack Ma’s Yunfeng Financial, which will utilize fintech capabilities to sell MassMutual Asia’s life and pension products in Hong Kong and Macau.
Looking ahead to next year, we’ll continue to track the broad impacts of new technologies and business models across different industries on the insurance industry and where and how (re)insurers are allocating resources. If there are areas you’d like us to dig into, shoot us a note.
As always, thanks for reading. We’ll see you in 2019!