“This is a textbook private equity move that demonstrates how today’s insurtech is business-savvy, just as much as tech-savvy,” said Eric Ayala of insurance software provider Novidea. “It should be a wake-up call to the larger insurance players. While the Progressives of the world are making fun commercials, Lemonade is making serious moves.” (Credit: ©rudall30) “This is a textbook private equity move that demonstrates how today’s insurtech is business-savvy, just as much as tech-savvy,” said Eric Ayala of insurance software provider Novidea. “It should be a wake-up call to the larger insurance players. While the Progressives of the world are making fun commercials, Lemonade is making serious moves.” (Credit: ©rudall30)

The future winners in the insurtech space are starting to become clearer as a combination of business smarts, financial resources and stronger leadership are allowing some of these tech-forward companies to pull ahead of the pack.

According to Eric Ayala, senior vice president and general manager, North America, for insurance software provider Novidea, Lemonade Inc.’s purchase of Metromile Inc. and subsequent divesture of Metromile’s Enterprise Business Solutions (EBS) platform, is a perfect example of what it will take to be a future leader in the insurtech space.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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