August 2, 2019
Insurance across the globe is slowly picking up – with industries growing in both the developed and developing regions. Amongst the developed, one country that stands out is the US – with impressive growth in the past year. It has been observed that sustained economic growth, rising interest rates, and higher investment income have helped the US insurance industry remain amongst the top-ranked globally. Moreover, property and casualty sector is one of the top segments and has seen a 12.7% rise in the first half of 2018.
Though traditional insurance companies will remain the front runners due to regulations and capital required for an insurance license, partnerships with InsurTech startups will allow them to tackle newer business models such as microinsurance and on-demand insurance.
InsurTech companies manage many niche segments of the market, ranging from operating as Distributors/Aggregators, API developers, HealthTech, Online First Insurance providers and IoT, amongst others. After presenting MEDICI Top 21 – InsurTech Awards, let us zoom in on some of ...