In recent years, investment has flooded into fin tech startups, creating 18 fin tech “unicorns,” 15 of which are in the payments or lending industries.
Now, VC investors, startups and major carriers alike are waking up to fin tech’s next frontier: insurance.
Inevitably, startups were going to target the insurance industry. That’s because, insurance:
Represents one of the last trillion-dollar opportunities for startups. It’s an enormous market with life and non-life premiums at over $3.7 trillion globally.
Is undergoing massive changes. The Affordable Care Act has transformed the health insurance landscape, which has drawn over half all funding to insurance tech. Meanwhile, innovation in drones, auto, and big data promise to quickly reconfigure the entire insurance value chain.
Has largely failed consumers digitally. Consumers are either unaware or mostly dissatisfied with the online experience offered by insurance providers.
We started the Insurance Tech Insights newsletter as the first, data-driven resource covering insurance tech startups, innovation, and how incumbents are responding.
Each week, you’ll find research, data, funding announcements, partnerships, and perspectives we think you’d want to know about.
Follow the early-stage money
In order to predict what the big emerging trends in an industry are going to be in 18 to 36 months, it pays to follow the early-stage money and companies.