Insurtech, “Big Insurance”, and the Innovator’s Dilemma

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Tom Bobrowski takes a look at the disuptors to the US Insurance Market and makes some predictions in this piece from The Digital Insurer. He writes:

“According to McKinsey, of the $4.4 billion that’s been invested in InsurTech over the last three years, 91% is aimed at helping Big Insurance, and only 9% at beating Big Insurance. Successful startups such as Metromile (auto insurance) and Lemonade (renters insurance) sure have the look and feel of long-term revenue disruptors, but the fact is InsurTech premiums as a percentage of total US premiums will be microscopic this year, less than one percent.” –Tom Bobrowski, Head of North America, The Digital Insurer

 

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