Bernard Lunn of Daily Fintech offers the concept of two types of FinTech (InsurTech) start-ups: those out to eat your lunch, and those who can bring you lunch.
The latter of course fit with Nick Martin's assertion in the recent InsTech London podcast about much of the InsurTech space NOT being a zero-sum game.
The specific example being considered is Allianz' investment in Simplesurance.
We categorize Fintech startups as we eat your lunch or bring your lunch: A. We eat your lunch. They take business away from Incumbents. For example, Market Place Lenders and Robo Advisers. Note: they can also do cooperative deals with incumbents, but the startup usually owns the customer relationship and that makes it a fundamentally different deal. Quite often the startup first gets traction in a market that the Incumbent does not care about but eventually there is a market share battle. B. We bring you lunch. This describes both Traditional Fintech as well as ventures building B2B2C revenue share partnerships with Incumbents.