Reach will become a critical insurance differentiator
As policyholder expectations evolve, InsurTechs are leveraging investor capital to create a reliable data and analytics foundation and maximize the benefits of AI/IoT solutions and API/open insurance enhancements to enrich their CARE equation delivery, with a focus on Convenience and Reach.
Traditional insurers are strengthening their tech capabilities by partnering with InsurTechs to improve Reach. Interestingly, while the focus had been on convenience for some time, now we have evidence that reach has become a priority.
More than half of incumbents sought InsurTech partnerships to expand Reach