NURTURING INSURER AND INSURTECH PARTNERSHIPS

Q3 2020 alone saw 32 partnerships across the insurance industry. They’re coming thick and fast and showing no signs of slowing down any time soon as the ongoing issue of Covid forces insurers to innovate at speed. Insurtech revenue is also expected to reach $10.1 billion by 2025 so there’s no doubt that insurers are going to want a piece of the action. But with all the new partnerships being created is it time to evaluate how these should move forward? As these relationships keep on springing up, the world of insurance could benefit from thinking about how to nurture these partnerships to create more value for both themselves and their customers.

Our Head of Insurance, Graeme Dean, was joined by Andy Lerner, Managing Partner at IA Capital Group, at Insurtech Insights to discuss the best way to nurture the ever-growing number of insurtech partnerships that insurers and insurtechs are creating, and ensure that each side can bring out the best in each other.

Watch the below video to find out more.

Key highlights:

The current landscape

  • How has the pandemic affected the need for partnerships in the insurance industry?
  • What changes to the insurance landscape have we seen as a result of the growing number of partnerships in the industry?

 

Partnership Evolution

  • Have we seen any clear examples of successful partnerships over the last year?
  • What bottlenecks do we see most often in forming successful partnerships?
  • How do we see relationships evolving as insurtechs become more like traditional carriers and incumbents become more tech-savvy?

 

Nurturing the Relationship

  • How are the needs of the full stack insurtechs going to change?
  • How can you make sure you’re getting the most out of your partnerships?
  • What can insurtechs do to prove their value to investors and insurers?