InsurTechSights - Insights on InsurTech

Embedded insurance is all the talk at them moment. Projected to take over a substantial amount of the market in the coming years , technology plays an important role in this process. However, the concept is barely new, for years we have been buying holiday services, flights or accommodations, and getting travel and cancellation insurance as part of that process. We get extended guarantees on white goods, and our phones are covered for loss and damage. Insurers do the same embedding coverages from other insurers their own insurance products, for example the legal assistance, included in car insurance, can be from a different insurer than your main insurer. Typically they would call that a 'rider'. But essentially, its the same. Lease companies have been bundling the car, loan, maintenance services and insurance, all into one package, giving a one-stop-shop experience. Insurance - Not an embedded desire People don't like dealing with insurance, it's a burden, the products...

This is a repost of my article on LinkedIn a week ago I last wrote about InsurTech in Israel almost 5 years ago . A lot has happened since then. Several Israeli InsurTechs; Lemonade, Hippo and At-Bay, have become unicorns, whilst others like Sapiens (SPNS) and Earnix have continued to grow into global leaders and there is a constant flow of new InsurTech companies. Acceleration all round the insurance eco-system The Israeli InsurTechs are using top local skills and cutting-edge technology to cover every aspect of insurance. From global systems and distribution verticals to pinpoint solutions. No line of business is being missed; general insurance (P&C), health and life, motor, home, cyber, business insurance and more. Brokers and digital channels, claims, underwriting, automation, no process missed either. Accelerating InsurTech Insurtech accelerators are suddenly everywhere, even in a tiny country like Israel, there are plenty of them. The accelerators are collaborations of t...