A clear approach here from Swiss Re on how they will engage startups. Insurers are typically falling into one of three categories:
1) Partner with the InsurTech
2) Invest in the InsurTech
3) Create/develop their own
I have seen some insurers do multiple, a few do all three. As for acquisitions, I think there have been fewer right now - but given the approach below, maybe this will change through 2018?
Swiss Re is steering clear. “If we see a start-up that can help us, either it’s very strategic and then we would buy them 100 per cent or copy what they do, or if it’s not that strategic then I think we can collaborate with them. But investing 10 per cent, 15 per cent, 20 per cent in them, I can’t make a case. We’re not a VC fund. I don’t see why my investors would prefer me to do that versus them making it,” said Mr Mumenthaler.