Another excellent piece of analysis by CB Insights suggests that the previous trends of insurers investing in non-insurance tech start-ups is changing.
The natural next question is whether the carriers will stick with investments or start to fully replicate the large financial services institutions in terms of creating full blown incubators?
Interestingly, while insurers previously shied away from tech startups working directly in the insurance value chain, 2016 has seen several strategic investments by carriers into insurance tech startups. These deals include XL Innovate’s investment in Slice Labs, a startup aiming to provide on-demand coverage for ride-sharing drivers and home-sharing owners; Intact’s investment in per-mile insurance provider Metromile; and MassMutual Ventures, Transamerica Ventures, and AXA Strategic Ventures’ investment into insurance-comparison portal PolicyGenius.
https://www.cbinsights.com/blog/insurers-tech-startup-investing-2016/
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