{"id":14892,"date":"2020-05-08T12:35:54","date_gmt":"2020-05-08T12:35:54","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=14892"},"modified":"2020-05-08T12:35:54","modified_gmt":"2020-05-08T12:35:54","slug":"could-covid-19-produce-a-boom-for-insurtech","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/could-covid-19-produce-a-boom-for-insurtech\/","title":{"rendered":"Could COVID-19 produce a boom for InsurTech?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">If there is one thing that we have all learned with the COVID-19 pandemic, it is that there is virtually no industry not being impacted in some way. This includes InsurTech. Let\u2019s take a look at a few dimensions of InsurTech and COVID-19\u2019s impact on them:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Full-stack insurers<\/b><span style=\"font-weight: 400;\"> \u2013 companies like Root, Lemonade and Next should be well-positioned to thrive when the virus subsides. As digital-native companies, they can capitalize as the world accelerates transformation to online, digital and mobile engagement.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Digital distribution players<\/b><span style=\"font-weight: 400;\"> \u2013 digital agents, comparison platforms and others in the distribution space stand to succeed as more people gain experience with moving their personal lives online. Of course, individuals and businesses can still call their agents or brokers or use their web capabilities, but, generally speaking, InsurTech digital distribution players have more advanced capabilities.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Tech companies<\/b><span style=\"font-weight: 400;\"> \u2013 InsurTechs that offer digital capabilities to interact with agents, prospects, customers and claimants will likely be okay, especially if the economy starts recovering within 10-12 weeks. Self-service, DIY, mobile and virtual capabilities will all be elevated in importance.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">One factor affecting all of this is that the funding picture is fuzzy. Up through the end of 2019, there was great momentum for InsurTech around the world, and funding levels were continuing to increase. Now, capital is already starting to tighten up. And the longer the COVID-19 crisis continues, the more reluctant investors will be to fund new ventures. Once business starts to return to normal however, InsurTech will be very well-positioned for success as insurers look to accelerate their digital transformation and inject even more innovation into their business.<\/span><\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-14892 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Global Fintech Fest Report Highlights'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/global-fintech-fest-report-highlights\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2023\/09\/c7bcb5fd-3e5e-49a6-6731-5ff8e10b3f3d1-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-17315\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-17315'>\n\t\t\t\tGlobal Fintech Fest Report Highlights\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Market for AI in Fintech to Reach USD 39.1 Billion by 2032'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/market-for-ai-in-fintech-to-reach-usd-39-1-billion-by-2032\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2023\/07\/futuristic-businessman-pointing-glowing-abstract-brain-generated-by-ai_188544-366481-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-17160\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-17160'>\n\t\t\t\tMarket for AI in Fintech to Reach USD 39.1 Billion by 2032\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Video: 9 data science use cases in banking'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/video-9-data-science-use-cases-in-banking\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2020\/09\/Top-9-Data-Science-Use-Cases-in-Banking-150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-15298\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-15298'>\n\t\t\t\tVideo: 9 data science use cases in banking\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>If there is one thing that we have all learned with the COVID-19 pandemic, it is that there is virtually no industry not being impacted in some way. This includes InsurTech. Let\u2019s take a look at a few dimensions of InsurTech and COVID-19\u2019s impact on them: Full-stack insurers \u2013 companies like Root, Lemonade and Next &hellip;<\/p>\n","protected":false},"author":12,"featured_media":14893,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,16],"tags":[507,460],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14892"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=14892"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14892\/revisions"}],"predecessor-version":[{"id":14894,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14892\/revisions\/14894"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/14893"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=14892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=14892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=14892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}