8 insurance tech startup mistakes to avoid

Dream on

Hi there,

Today, Citi analysts proposed an “audacious” acquisition of AIG by Google parent Alphabet in order to “turn it into an insurance FinTech laboratory.”  

Last October, we highlighted Google’s increasing moves in insurance tech, including its three health insurance tech investments in 2015. However, Google Compare CEO Nicolas Weng Kan has repeatedly said that Google has absolutely no interest in becoming the next big insurance carrier.

An Alphabet acquisition of any existing insurers (esp. one with a $67B market cap) is a nice pipe dream. It’s great publicity for the need for insurance innovation, though.

What to avoid when starting an insurance tech startup

Lots of investors have blogged about various “opportunity patterns” in the insurance industry. While great starting points, they don’t dive too deep into the more practical and operational issues entrepreneurs in the space encounter.

We have a great guest post from founder Krishna Kaliannan (@kkal24) detailing 8 key takeaways on starting a company in insurance tech. Krishna touches on MGA appointments, regulatory requirements and much more. Be sure to give it a read.

The latest insurance carrier investor

Intact Financial’s strategic investment today into per-mile insurance startup Metromile made the Canadian carrier the latest insurer to dive into insurance tech investing.

Have a great rest of the week.

Matt
@mlcwong