Twelve of the top 20 life insurers have invested in at least one startup as incumbents aim to digitize the life insurance sector.
Compared to their property and casualty counterparts, life insurance players invest in notably fewer startups.
But over the last 6 years, life insurers’ startup investments have increased in 4 key areas: data assets and analytics, tech-enabled distribution, process improvement, and value-added services.
In this analysis, we dive into investments made by the 20 largest US life insurers (by premiums), to understand what areas leading incumbents are exploring and where the industry is headed next.
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