Artificial intelligence may dominate the current conversation around insurance technology, but the story of InsurTech itself has followed a different trajectory. A decade ago, the sector was defined by the promise of disruption. Venture capital flowed into startups promising to rebuild insurance from the ground up. This swell of momentum saw surged to record levels, peaking at more than $15bn glob...
The article highlights a significant shift in the InsurTech sector, which initially sought to disrupt the insurance industry but is now focusing on enhancing the industry's efficiency and profitability. This transition reflects the unique challenges of the insurance sector, which includes its complexity, regulation, and high capital requirements. The new approach, focused on addressing specific inefficiencies, represents a more sustainable and practical strategy that caters to the needs of both ...