sost2016 Insurtech Research - Firarcial Tecmology & The Insurance Indust - Business Insider BUSINESS INSIDER THE INSURTECH REPORT: How financial technology firms are helping — and disrupting — the nearly $5 trillion insurance industry ‘SEP. 26, 2016, 217 PM ‘The global insurance industry is Sana Reeereel worth neaey $5 trilion, and nine soot ae Insurance companies are at risk of cette ent losing a share of this valuable market tomew entrants. That's because these legacy players have heen even slower tomodemize than their counterparts {nother financial services industries. 0 ‘This has created an opportunity fora group of firms known as insurtechs ‘These startups are leveraging new ue technology anda better os ‘understanding of eonsumer ae expectations toinerease efficiencies in “mn nuns oy the insurance industey. Some are — | INTELLIGENCE sioner dpelping incumbents deliver better end products, while others are directly ‘competing with legacy players. {In anew report from BI Intelligence, we look atthe drives behind the inereasing numberof nsurtech companies, how they are helping o disrupting legey players in the insurance industry, and where legay players are innovating oftheir own backs Here are some of the key takeaways: + The opportunity is currently biggest in the US and Europe. That's because these regions have large, ery mature insurance industries + Insurtechs' products and services mostly target retail customers, Ths includes small businesses and consumers. + Most insurtechs are acting as enablers. This means that they ofer products and services that help ingurers and reinsurers improve their processes and better serve customers + Oftthe main players in the insurance industry, brokers are most at risk of disruption. This is ‘because insurtechs ean easily replicate their services and are solving historical industry problems faster than legacy players. + Legacy players are also innovating, In particular, insurers and reinsurers are investing in insurtechs and fintechs working with relevant technologie, At the same time, they ae improving their own diret-to- ‘consumer digital interfaces, inereasng their disruptive threat to brokers. In full, the report: + Explains the structure and current state ofthe insurance market + Highlights areas where insurtechs ean help legacy players modernize + Describes where insurtechs are competing with incumbents and how their models compare. + Provides ease studies of insurtechs Outlines the legacy response. ‘And much mare Interested in getting the full report? Here are two ways to access it: +, Subscribe to an All-Access pass to BI Intelligence and gain immediate acces to this report and over 100, other expertly researched reports. As an ade bonus, youl also gain access to all future report and dally nevwsletters to ensure you stay ahead ofthe curve and benefit personally and professionally. >> Learn ‘More Now 2. Purchase & download the full report from our research store, >> Purchase && Download Now rpihwwrbusinessineldercomnsurtoch-research-Inancal-technoogy-ard.te Insurance indusry-2016-9 18sost20%6 Insurtech Research - Firarcial Tecmolagy & The Insurance Indust - Business Insider z REPORT THE INSURTECH 5 Tap Fintech Predictions by REPORT ihebrineligens Reser ran ponassmatsn Tr a Get the Re owe ‘Smloeresoca nae Get updates in your inbox Subseribe to Finch Bring and never mis a ‘update? E Sane Prvaey Pl Recommended From The Web Prono aby Te (Case Study: Intel Tools Unlock Big Performance Gains In Ant Colony Optimization Algorithm 1,000,000 Are Using This App To Lear A New Language ‘Warning! This Game Is Highly Addicting Are You A Strategic Thinker? Te four Skills With Millions OF Addicted Players! The Utimate Way To Get Cheap Hotel Rooms Don't Do It! The Game That Will Have You Hooked Ranking The Least Intelligent Presidents In U.S, History Gamers Around The World Have Been Wsiting For This Game! ‘Ahair surgeon explains what's going on with Trump's hair ‘Sacha Baron Cohen recounts his 2003 Trump interview: "| was the fist person actually to realize that he's a d- rpihwwrbusinessineldercomnsurtoch-research-Inancal-technoogy-ard.te Insurance indusry-2016-9sost20%6 Insurtech Research - Firancial Technology & The Insurance Indust - Business Insider GREEN BERET: What elite forces are saying about Trump ‘Surprise: Earth has two moons Here's how long the average man lasts in bed ‘A Femen protester appeared to hang herselt to protest the Iranian president's visit to France rpihwwrbusinessineldercomnsurtoch-research-Inancal-technoogy-ard.te Insurance indusry-2016-9