Insurers team up with IoT startups

Insurer of Things

Hi there,

The Internet of Things is one of the most hyped tech phenomenons with applications for the insurance industry. The big hope for life insurers, general carriers, and private health providers is that smart devices will drastically improve how they price risk. 

One major way they are diving into the IoT opportunity is partnering with startups and tech giants.

Here’s a look at notable partnerships between insurers — including AmFam and State Farm — and IoT providers like Canary, Nest, and Ring in one infographic.

Where insurance tech is headed next

Last week, we presented a webinar to 1000+ attendees on insurance tech trends. From trending startups to VC commentary to how insurance incumbents are responding, here’s 52 slides to get up to speed on the emerging insurance tech landscape.

Phew

Google Compare CEO Nicolas Weng Kan recently had a few words that must have given insurance professionals a sigh of relief:

“Google Compare is not becoming an Auto Insurance carrier.” 

Instead, Weng Kan said Google’s next move will be to expand its Compare tool to other consumer insurance lines. It’s worth noting Google has already made three separate investments in the health insurance space this year, including to health insurer Oscar Health. 

Why VCs are hungry for insurance startups

14 of fin tech’s 18 unicorns are in payments or lending. But just two are in insurance.

Have a great rest of the week.

Matt
@mlcwong