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Consumers trust incumbent insurers over insurtech startups

Over half of people in the U.S. are opposed to the use of big data in insurance but many would accept its use if the data made their premiums cheaper, according to a survey from Breeze, an insurtech. The majority of consumers surveyed also don’t trust insurtechs when buying policies.

The survey results suggest that consumers still trust established traditional insurance companies over newer insurtech startups.