Insurtech investing: How collaboration with start-ups can benefit the insurance sector
In this IIL cyber, technology and innovation webinar, Ruth Foxe Blader and Matthew Jones reviewed how this most recent wave of technology-driven innovation in insurance has developed over the last few years as well as what is expected to happen next.
In 2020, the amount of venture capital funding going into insurtech surpassed $7bn, over 20x larger than the corresponding figure in 2012. Such rapid growth begs the question: where does this money come from and where is it going?
Venture capital investors’ funds – largely backed by insurance companies and other large financial institutions – have backed a mix of disruptive B2C propositions and next generation B2B enabling technology. From distribution to underwriting to core systems and from property to specialty, very few parts of the insurance industry remain untouched by aspiring entrepreneurs and their technology.
As more insurance professionals move from traditional players to start-ups and as start-ups improve their technology, insurtech presents a great opportunity for collaborations between established players and start-ups and a virtuous cycle of positive outcomes.
By the end of this webinar members would have gained an insight into:
- Insurtech after the first (almost) decade – lessons learnt
- How the insurance sector can see start-ups as friends, not competitors
- How to create collaborations between established players and start-ups and a virtuous cycle of positive outcomes
- How the culture of diversity and inclusion creates better outcomes
- 2021 and beyond - future trends in insurtech
- Online event
You will be sent a confirmation email shortly after booking. If you have not received this within one hour, please contact Patricia Pedraza (020 7397 3911).
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.