Startup-Carrier Partnerships Will Change the Insurance Industry for Good

InsurTech is here to stay, and it will bring fundamental change to the insurance industry, said Andrew Rear, Head of Munich Re’s Digital Partners.

Indeed, in the recent history of InsurTech, insurance carriers along with the surrounding traditional elements of the ecosystem came under attack for the comparative inefficiency and lack of innovation, leaving aside the personalization element among other things. As new types of insurance products and influential technologies emerge, traditional models employed by large carriers do not seem sustainable in the long term and require work on appropriate re-application of vast resources and talent that carriers have accumulated over decades of work.

Insurance hasn’t r ...

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