In Q2 2017, 985 was invested in insurtech projects, according to research by global advisory service provider Willis Towers Watson. Investment has tripled since Q1 2017, with the insurtech sector moving toward a “modular economy” that is changing how services are provided in the market. Willis Towers Watson has said that incoming technology is not disruptive to the sector, instead saying that the disruption is the extent to which an insurance firm can apply technology successfully when compared to its peers. New technology in the insurance market is predicted to lead to higher customer satisfaction rates.
In Q2 2017, $985m was invested in insurtech projects, according to research by global advisory service provider Willis Towers Watson. Investment has tripled since Q1 2017, with the insurtech sector moving toward a “modular economy” that is changing how services are provided in the market. Willis Towers Watson has said that incoming technology is not disruptive to the sector, instead saying that the disruption is the extent to which an insurance firm can apply technology successfully when compared to its peers. New technology in the insurance market is predicted to lead to higher customer satisfaction rates.