Most of the reinsurance brokers have been fairly quiet on Insurtech up until now but I suspect things are going to be changing soon.
Insurance Insider held a very well attended Insurtech conference in New York last week. Ted Devine (ex Aon and now CEO of Insureon) and Jayant Khadilkar from Tiger Risk Partners were together on one of the panels. Jayant gave a number of insights into the developments he is seeing across the industry. He reckons there is about $2bn capital waiting to be invested, but highlighted the need for investors to be selective in where they place their money as there are already signs of overvaluation in some areas.
All of the brokers are realising that the choice of startups creates the need to help their clients understand and work with the wide range of new technology and we're delighted to have the support of TigerRisk Partners as one of four gold sponsors for InsTech London this year.
Khadilkar cited "The Innovators Dilemma" by Clayton Christensen as he noted that there are two kinds of innovations: those that address clients' current needs, or sustainers, and those that disrupt, to address clients' future needs.