Business Insurance
Perspectives: Competitors or catalysts? Evaluating insurtech’s role in the insurance industry
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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.