There are forces that are quickly changing the insurance distribution landscape. This is good news because innovative insurers and brokers can take advantage of these forces to leap over their competitors. Even outperform the quickly growing Insurtech distribution alternatives and create sustainable competitive advantages.
There seems no end to potential Insurtech competitors. A recent report, Quarterly InsurTech Briefing Q2 2021 by Willis Towers Watson, stated the first half of 2021 saw the most funding ever over past years for Insurtechs – $7.376 Billion. 55% of that went to distribution Insurtechs, the majority of whom “…focus on tech-enabled distribution in an attempt to minimize the dependence on agent channels”. Thanks for reading and let us know if you liked it or have some comments.
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