Instant Insights / InsurTech & startups: What you need to know

Insurance technology, or InsurTech as many know it, is changing the insurance industry — whether it is ready for the transformation or not.


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Joe Alberti, VP of Specialty Programs at Fortega Financial, outlines three ways insurers can work with carriers to leverage InsurTech. (Photo: Shutterstock)

While still in the early stages, the growth of InsurTech is putting pressure on insurers to adapt in order to keep pace with competitors and remain relevant to customers. However, despite three-in-four insurers anticipating that InsurTech will disrupt their business within five years, a recent PwC survey suggests that only 14% are currently investing in the trend.

Are you among those still on the fence about whether to incorporate InsurTech into your business plan? Here are a few ways insurers — specifically automotive insurers — are working with carriers to take action on InsurTech, and why you should too.

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