80% of P&C firms worldwide will invest in insurtech
Thursday, 10 27 2016, Category: Technology, Country: World
Almost two-thirds of the world's 25 largest insurance companies have invested in insurtech, and by 2018 the majority of insurers worldwide will join them, new research by Gartner claims.
64% of global major insurers have already invested in insurtech, whether directly or indirectly via their venture capital arms, and by 2018 it is estimated that a staggering 80% of P&C insurers worldwide will partner with or acquire insurtechs.
Insurers will continue to pump money into insurance technology start-ups over the next two years in order to secure their competitive positions, according to the research firm.
Source: Insurance Business