September 8, 2020 (BOSTON) – With time horizons shortened to reflect uncertainty about the future, insurance carriers investing in or partnering with InsureTech startups appear to be focusing on tactical initiatives that can produce more immediate results than some of the more speculative R&D efforts more common in the pre-pandemic era. In its fourth annual report, InsureTech for Insurers: 250 Startup Profiles, research and advisory firm Novarica outlines the InsureTech landscape for insurers, focusing on two key questions: Does this matter to my company? And what can we learn from it?
“One lesson that emerges from the 250 InsureTech startups Novarica has profiled in this report is that the insurance industry should rethink its consumer experience from every angle,” said Jeff Goldberg, Executive Vice President of Research and Consulting and co-author of Novarica’s new report. “Across all lines of business and across all sizes, insurers will feel the impact as InsureTech startups shift customer expectations and point the way for more effective, insightful operations.”