Perspectives: Competitors or catalysts? Evaluating insurtech’s role in the insurance industry
The insurance industry has been an obvious target for digital transformation, with antiquated information technology stacks that still engage paper, phone and fax processes. That feels like a relic to those exposed to industries that are multiple decades into a digital transformation. Seeing this opportunity, some early insurtechs followed the model of Uber and Facebook — “move fast and break things” — but over time, that hasn’t been the primary story.