In 2017 the InsurTech sector received $2.3 billion in funding, up 36% from the previous year. 2018 is predicted to be the year in which InsurTech moves from proof of concept to production as technologies are scaled for launch.
The question now is; what are the consequences of this market disruption? Like Netflix did to Blockbuster, will InsurTech replace the traditional insurance retailer?
Jonathan Davey, CEO of HUG HUB, discusses the insurance sector’s approach to InsurTech and how retailers can meet rising customer expectations without replacing their existing infrastructure through insurance business software.