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InsureTech for Insurers: 250 Startup Profiles

Research Report


 

Summary

This report profiles 250 InsureTech startups—including Analytics Arms Dealers, Beneficial Bots, Creative Carriers, and Digital Distributors—from the point of view of their value to insurers as partners or suppliers. While most research and media focused on InsureTech startups is written for innovators and investors, this report for insurers focuses on two key questions: Does this matter to my company? And what can we learn from it?

Topics

  • Types of InsureTechs. Novarica categorizes the startup environment for easy classification.
  • Engaging with InsureTech. Additional approaches to InsureTech involvement exist for companies that are not ready to invest in a startup or startup fund.
  • InsureTech Profiles. The 250 vendors in this report serve as a starting point for insurers learning about InsureTech.

Key Points and Findings

AI messaging is everywhere. Everyone’s talking about AI, but real AI is less clear. Even so, adoption of AI technologies like machine vision and natural language processing is growing across lines of business and use cases.

Insurance is going beyond direct online. Many startups are rethinking distribution, bringing products to consumers rather than simply enabling a direct online purchase.

Startups previously positioned as competitors are becoming partners. Many startup “carriers” are licensing their platforms to allow insurers to develop niche products and branch into new lines of business, though the effectiveness of this pivot is yet to be proven.


 

Table of Contents

  • InsureTech Overview 3
  • What’s New in InsureTech in 2020 4
  • InsureTech Profiles 13
  • At-A-Glance Tables and Profiles List 14
  • Analytics Arms Dealers 21
  • Beneficial Bots 57
  • Creative Carriers 111
  • Digital Distributors 134
  • Concluding Thoughts 151
  • Next Steps and Related Research 151
  • About Novarica 152

 

  • Tagged:
  • Analytics
  • , Artificial Intelligence
  • , Core
  • , Data
  • , Digital
  • , Distribution
  • , Emerging
  • , Innovation
  • , InsureTech
  • , Life Insurance
  • , Property/Casualty
  • , Telematics
  • , Vendor