A.M. BestTV at InsureTech Connect: It Is About Finding Pain Points, Trimming Fat, Say Investors’ Panel
October 9, 2018
OLDWICK, N.J.–(BUSINESS WIRE)–In this episode of A.M.BestTV from InsureTech Connect 2018 in
Las Vegas, NV, a panel of insurance investors and market researchers
report that investing in insurtech firms has reached an inflection point
as investors and insurers build out early ventures and look to new
technologies and risk sectors. Click on http://www.ambest.com/v.asp?v=insuretech21018
to view the entire program.
Sam Friedman, insurance research leader, Deloitte Center for Financial
Services, highlighted how investors have become more selective.
“Initially, you saw this wave of new startups coming in, and people
spreading their money throughout the industry, trying to figure out who
is going to get off the ground the fastest,” said Friedman. “Now, the
investor is much more discerning, you cannot just come to that company
with a PowerPoint presentation. You have to be a more mature insurtech,
having been in operation for at least 18 to 36 months.”
“We invest in a couple sectors beyond financial services, like mobility
and e-commerce,” said Alex Lazarow, director, Cathay Innovation. “I
think it is interesting how insurance intersects with some of these
services. For instance, the future of mobility might be with driverless
cars. So we ask, ‘how does automobile insurance change in that dynamic?’
Similarly, with the rise of e-commerce, how do we see new types of
insurance distributed to these platforms, as well as tied to products
and services? How do we actually reinvent insurance products and
services for our consumers?”
Other people that appear in this episode:
- Matt Streisfeld, principal, Oak HC/FT.
For full video coverage of the InsureTech Connect 2018 conference,
including exclusive executive interviews, please visit http://www.ambest.tv/insuretech18.
Other innovation-focused episodes of A.M.BestTV include:
-
For Insurance Technologists, The New Frontier Is Small Commercial
Lines: Insurance technologists said the market for commercial
coverage, particularly for smaller businesses, is large but
fragmented, making it an enticing target for technology-enabled
insurers and startups: http://www.ambest.com/v.asp?v=smallcommercialpanel1018. -
Technology Helps, Culture Makes the Difference: Sridhar Manyem,
senior director, Edin Imsirovic, senior financial analyst and Clare
Finnegan, criteria analyst, all of A.M. Best, examine the
company’s new industry survey of more than 450 insurance companies
globally, which shows how many insurers are hungry to embrace
innovation, but some face internal challenges to change: http://www.ambest.com/v.asp?v=innovation1018. -
Innovation Report First Step in Integrating Into Rating Evaluation,
Says A.M. Best Executive Vice President and Chief Operating Officer:
Matt Mosher, executive vice president and chief operating officer,
A.M. Best, discusses a new report from the rating agency that examines
insurers’ perspectives on innovation, and said the next step is to
develop criteria to evaluate an insurer’s ability to innovate: http://www.ambest.com/v.asp?v=mosher1018.
A.M.BestTV covers exclusive A.M. Best and insurance
industry information and reports, targeted topics and key developments
in the insurance, reinsurance and related sectors daily. Sign up
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View A.M.BestTV episodes at http://www.ambest.tv.
A.M. Best is a global rating agency and information provider with a
unique focus on the insurance industry. Visit www.ambest.com
for more information.
Copyright © 2018 by A.M. Best Company, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.
Contacts
Lee McDonald
Group Vice President, Publication and News
Services
+1 908 439 2200, ext. 5561
lee.mcdonald@ambest.com