Investors have set their sights on insurance tech. Ripe for disruption, this antiquated industry has a large and confusing domain known for its poor customer satisfaction and, in this age of swipes and clicks, limited technological innovation.
A much-needed leap into the 21st century could change this.
A serious shift in insurance is possible as investors examine the potential value of insurance tech, a currently weaker component of the industry. Since 2010, investors have funneled an estimated $2.12 billion toward this prospect. Of those funds, more than half rolled in during the last two years, with $556.5 million coming in 2014 and $831.5 million in 2015 -- and we’re not even talking a full year here; that’s just from January to May.