Can InsurTechs Compete With Carriers and Agencies on Main Street?

April 9, 2018 by John Sarich

Executive Summary

John Sarich, an industry analyst and VP of Strategy at VUE Software, questions whether technology produced by the legions of new InsurTech startups will have staying power in the marketplace. The competition on Main Street is fierce, he said, and these startups must address how their technology will help win or write new business or keep existing clients.

As an industry, insurance has always been a technology pioneer of sorts—so it comes as no surprise that in these halcyon days of digital commerce, more than 700 new insurance technology vendors, mostly startups, have recently come onto the scene, accounting for the phenomenon known as InsurTech.Executive SummaryJohn Sarich, an industry analyst and VP of Strategy at VUE Software, questions whether technology produced by the legions of new InsurTech startups will have staying power in the marketplace. The competition on Main Street is fierce, he said, and these startups must address how their technology will help win or write new business or keep existing clients.