Keeping up with all the latest InsurTech news and trends can be hard work. Luckily everis, together with NTT DATA, this month published the third edition of their InsurTech Outlook 2019. Based on a combination of in-depth research synthesising multiple information sources and surveys conducted with executives at 43 insurance companies across Europe, Asia Pacific and Latin America the report presents a number of interesting insights.
Here are just a few of the key takeaways:
- Insurtech continues to attract investors. In the 2016-2018 period, the sector received total funds of $11.2 billion
- Start-ups based on Cloud & Mobile Applications saw the highest levels of investement
- AI-based Insurtech saw the fastest growth rate (665% between 2010-2015 and 2016-2018)
- The business model seeing the biggest investment during 2016-2018 was that of "Platform ecosystems/marketplaces"
- 9 out of 10 insurers consider InsurTech activity as a risk for their current business
- A number of tech giants like Amazon, Alibaba, Apple, Baidu, Facebook and Google are making moves into the insurance sector by collaborating with different disruptive start-ups to enter the health or small and mid-caps insurance market.
InsurTech continues to march forward with increasing investment in start-ups leading the way in the modernisation of the insurance industry.
The global consulting firm everis, together with NTT DATA, published the third edition of InsurTech Outlook 2019, where the technological landscape within the insurance market and its evolution during the last years is analysed. Furthermore, this report shows the role from insurers, investors and technological companies in the industry, illustrating the trends that are redefining the insurance market.