InsurTechs growing despite unsustainable loss ratios
Friday, 08 31 2018, Category: Technology, Country: World
InsurTech start-ups have continued to record robust premium growth so far in 2018, however, generating a sustainable loss ratio below 100% remains a challenge, according to analysis by two industry executives.
A recent article co-authored by Adrian Jones, Head of Strategy & Development at reinsurance giant SCOR, and Matteo Carbone, Founder & Director of IoT Insurance Observatory, a global industry think tank focused on the Internet of Things in insurance, explores the performance of a number of InsurTech companies in the second-quarter of 2018.
One of the interesting points highlighted by the pair, is the fact InsurTech start-ups are outperforming industry veterans on premium growth, but falling short on loss ratios, which, despite being “generally stable or improving slightly”, remain “unsustainable.”