May 13, 2022
Insurance is one of the oldest industries. It has its root back in 1752. Everyone needs it. It protects the financial downside and provides cash in the long term. The middle and upper class spends on insurance for tax optimization. Companies buy insurance to attract and retain talented employees.
Insurtech companies exist to make buying insurance a delightful process. Today, you can buy insurance online, submit/receive insurance claims, “group-purchase” a policy (peer-to-peer insurance), find your coverage needs, and compare policy pricing. They compete with incumbent insurers which often rely on human brokers, pushy sales agents, and lengthy claim processes to help clients get paid.
We’ll examine companies that provide consumer-facing insurtech products—for home, health, auto, life, small businesses, and more.
Then, we’ll reveal exciting whitespace where new players can capitalize and monetize.
(1) Insurtech is growing exponentially:
(2) Insurtech companies are getting successful exits:
(3) Making other life areas insurable:
(🔒 Full version) +6 more key trends in the insurtech space. These insights will help you capture specific customer needs:
🔑 (4/9) How to maximize marketing distribution and profits using this insurtech model? (3 company examples)
🔑 (5/9) How to keep 100% of revenue ownership as an online insurer platform? (4 company examples)
🔑 (6/9) Mobile-first insurance drives purchase conversion. How to implement? (2 company examples)
🔑 (7/9) This emerging trend has unlocked untapped market needs (3 company examples)
🔑 (8/9) Crypto industry and insurtech, where’s the trend heading? (2 company examples)
🔑 (9/9) Asia-based insurtech winners and business model that works (3 company examples)
Find market niches in the Insurtech space, discover competitors, and explore ways to differentiate your new ideas:
(1) Slow and complicated claim process:
(2) Overpriced insurance:
(🔒 Full version) +4 more well-defined problems in the insurtech space. Solving the right problems will help you build something people want:
🔑 (3/6) What specific problems do Lemonade and The Zebra solve?
🔑 (4/6) How to solve market problems through verticalization? (3 company examples)
🔑 (5/6) How to make insurance even more affordable other than digitizing the buy/claim process? (2 company examples)
🔑 (6/6) How to identify market gap and provide the right solution? (3 company examples)
(1) Peer-to-peer (P2P) insurance model
(🔒 Full version) +4 more business models and monetization techniques:
🔑 (2/5) The most common way to de-risk your startup revenue generation without complicated tech & features upfront. (3 company examples)
🔑 (3/5) How to drive purchase conversions in a shorter time period by adding this revenue model? (2 company examples)
🔑 (4/5) Insurtech winners often create highly-differentiated products using this model (4 company examples)
🔑 (5/5) Add this business model to reach more customers (1 company example)
(1) Insurance for crypto assets:
(2) On-demand economy:
(🔒 Full version) +3 more insights that explore the future of insurance, what new solutions will look like, where’s the market demand, and answers the most important questions for your investors:
🔑 (3/5) What kind of new products are needed to satisfy the growing insurtech market?
🔑 (4/5) Health insurance is worth USD 3.3 Trillion by 2028, where is the untapped market?
🔑 (5/5) These 3 companies are building insurtech for the DeFi space.
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