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Insurance's next chapter will be customer experience & payment solutions

Of all the areas where insurance can improve the customer experience, are payment solutions the holy grail?

By Praveen Chekuri | October 04, 2021 at 06:00 AM
Insurance customers, like everyone else, expect a modern customer experience now more than ever, and that includes innovative payment solutions. (Photo: WrightStudiov/Adobe Stock) Insurance customers, like everyone else, expect a modern customer experience now more than ever, and that includes innovative payment solutions. (Photo: WrightStudiov/Adobe Stock)

There’s never been a more exciting time to be in insurance.

Billions are flowing into our industry. Capital deployed in the first half of 2021 already exceeds the full year of 2020 funding — with the majority going to megarounds and distribution. Investors view insurtech with an eye on the astronomical upsides of disrupted behemoth industries like e-commerce and fintech — and another eye on the current wave of risk-originating insurtechs that are maturing and moving towards going public earlier in the funding cycle. This infusion of attention and capital translates to a vibrant, growing insurtech ecosystem that pushes boundaries and makes leaps in innovation. We are moving at unprecedented speed.

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