Embroker, a startup which recently raised $12.2m to bring transparency and simplicity to insurance management services, predicts the next 12 months will see some tectonic shifts in how the insurance industry does business. The company is working with insurers on new ways of managing claims, including using blockchain technology to track claims across multiple companies and platforms.
Embroker, a startup which recently raised $12.2m to bring transparency and simplicity to insurance management services, predicts the next 12 months will see some tectonic shifts in how the insurance industry does business. It highlights three big trends which will impact the industry in the coming months; a) venture capital firms, which significantly increased investment in insurtech in 2015, will surface the strong players in the sector, b) carriers will pull the trigger on deals with startups to form innovative partnerships or make acquisitions c) increased funding will enable insurtech startups to lure experienced executives from traditional insurance giants.