Along with Guy Carpenter, we are pleased to announce plans to release our study Insurtech Accelerators: A Market Scan, at this year’s InsuretechConnect, sponsored by Oliver Wyman, on October 3. This research provides macrolevel information on the accelerator market as well as detailed profiles of 10 organizations.
Celent and Guy Carpenter define insurtech as:
|Rapidly expanding development and application of new technologies and operating models intended to fundamentally change current business models, financial models, and/or industry ecosystems.|
The pace of technology change in insurance continues to increase. artificial intelligence, blockchain, predicative analytics, and bots are a few technologies offering new opportunities. In response, activity in insurtech continues to increase as investors and insurers recognize that insurtech technology represents a chance to improve operations and business models. Insurtech accelerators provide one way for insurers to develop their knowledge of alternatives and to consider how they wish to respond to insurtech.
This research explores numerous areas, including accelerator structure, operating metrics, and membership options. Data was gathered to determine the key characteristics of the accelerator market, and highlight capabilities which differentiate offerings. The information in this report will help insurers decide whether and how they wish to participate in insurtech accelerators.
Once the report is released, we will blog on the high-level findings, so watch this space.