5 Cs of Opportunity in InsurTech

Insurance globally is an industry with scale, with USD 4.1 trillion dollars of premium written in 2015 alone. It is also an industry on the cusp of change – attracting investor interest in record numbers with investments totaling USD 1.4 billion on InsurTech firms in just the first three-quarters of 2016.

However, as I have interacted with various startups, it has become clear that the breadth and scale of the opportunity are not clear to many of them. The mental model of ‘InsurTech’ seems to be limited to the claims part of the value chain only. In this article, I outline a 5 C framework to help startups navigate the insurance opportunity landscape. I hope to convince more startups to have a clear strategy for selling to insurance carriers.

The 5Cs of opportunity in life insurance are – communication, customization, connection, cognition and consensus. Let’s look at each in turn:


At its core, insurance is a promise. Now, there isn’t much value in a promise if you can’t communicat ...

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