Q&A with Esurance and eCoverage co-founders. This week in insurance tech.
While the full impact of this morning’s election results won’t become clear for a long time, here are a few areas relevant to insurance startups that we’ve seen attract some early buzz.
Obamacare: After ACA was signed into law in 2010 and later upheld in the Supreme Court in June 2012, we’ve seen a number of entrepreneurs launch new digital employer-based and personal health insurance brokerage models, platforms for self-insured companies to manage benefits and new tech-enabled carriers.
US insurance M&A and investment from China: For Chinese cross-border acquirers, insurance firms have been a hot target. Notably, last month saw China Oceanwide acquire mortgage and long-term care insurance provider Genworth for $2.7B and we’ve even seen some cross-border investment activity into insurance tech such as China Pacific Insurance’s investment into Metromile.
Not surprisingly, the vibrancy of this activity might look quite different under a Trump presidency. Related: We’ll be covering China investment into Silicon Valley in a webinar next week.
Cyber: While some investors are already predicting an influx of security spending and startups, the Republican platform actually includes a section advocating for “a free market for cyber insurance and make clear that users have a self-defense right to deal with hackers as they see fit.” While the latter part has many nervous, we could see cybersecurity (and insurance) garner more investor interest.
Insurance tech: dot-com edition
On a completely different note, we have a great Q&A segment this week documenting the histories of two insurance tech startups launched in the dot-com days with former Esurance co-founder Chuck Wallace and former eCoverage co-founder and CEO Jon Kelly covering everything from aggressive full-page WSJ ads to raising capital to advertising on Google, pre-AdWords.
Be sure to check out the full post here, which features some great anecdotes like the one below: