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InsurTech Is Triggering Transformation in Personal Lines

Boston, MA (Oct. 4, 2017) – Strategy Meets Action (SMA), a leading insurance strategic advisory firm, has just released a new research report, InsurTech and Personal Lines: Examples, Use Cases, and Implications. The report analyzes the current state of the InsurTech world by assessing approximately 600 startups that SMA has identified as relevant for personal lines insurers. Findings of the research include the following:

  • Approximately 360 startups are what SMA calls Pure InsurTech – with an exclusive focus on the insurance industry.
  • Approximately one-quarter of the InsurTech startups have solutions for the connected world, including solutions for auto and homeowners.
  • Insurers are investing in a series of strategic initiatives that support InsurTech and the digital connected world.

“InsurTech is taking the insurance industry by storm,” said Mark Breading, SMA Partner and report coauthor. “Although many startups may ultimately fail, many others will be successful and play a major role in the transformation of the industry.”

This report is a companion to InsurTech and Commercial Lines: A Surge of Activity and New Implications, released in May 2017.

About SMA

Exclusively serving the insurance industry, Strategy Meets Action (SMA) is an advisory services firm offering retainers, research, consulting, events, and innovation offerings to both insurance companies and solution providers. Learn more about SMA at www.strategymeetsaction.com.

SOURCE: Strategy Meets Action (SMA)

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