InsurTech startups in their first few years have supplied plenty of flash and dazzle, paired with promises to disrupt and transform the insurance industry through radical changes and inventions.Executive SummaryIn the months ahead, the InsurTech sector will generate a new wave of innovations that are a lot less flashy and much more practical, a panel of experts said at Carrier Management’s recent InsurTech Virtual Summit. While the move toward more practical innovations already was underway, some on the panel said the coronavirus pandemic has accelerated the process.
In the months ahead, InsurTech will be officially coming down to earth. The sector will generate a new wave of innovations that are a lot less flashy and much more practical, a panel of experts said at Carrier Management’s recent InsurTech Virtual Summit on May 6, 2020. While the move toward more practical innovations already was underway, some on the panel said the coronavirus pandemic has accelerated the process. But the trend established itself well before the pandemic, they noted.