Vinnie Lauria Examines What Makes Asia the New Frontier for Insurtech

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Forbes Contributor Vinnie Lauria looks at the forces creating opportunity in Asia’s fledgling insurance marketplace in a recent Forbes article. He writes:

 

“Several factors account for this. Insurance penetration is low compared to the West, which means room for growth, whereas e-commerce penetration is higher than in countries like the U.S. People in China and SEA are more inclined to shop online, so they are open to buying insurance that way—and they’re not locked into “legacy” insurance products from big, old, offline firms to the extent that most Westerners are. Insurtech companies are freer to set new standards for how insurance is packaged and sold, in the same sense that it’s easier to build a new state-of-the-art subway system than to upgrade New York City lines built in the early 1900s.” –Vinnie Lauria, Founding Partner, Golden Gate Ventures

 

 

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