I was going, ‘Well, that’s what agents are.'” Insurtech start-ups should be developing partnerships rather than taking more funding from insurance carriers, Martha Notaras of venture firm XL Innovate has said, after insurtech start-ups received $2bn in venture capital in 2016. Notaras, a partner at the firm, said insurtechs are realising they sometimes need the help and expertise of established carriers so partnerships can be more helpful to them than investment. “Insurance companies have been very slow to understand that there is an opportunity for insurers to work with startups,” she said.
Insurtech start-ups should be developing partnerships rather than taking more funding from insurance carriers, Martha Notaras of venture firm XL Innovate has said, after insurtech start-ups received $2bn in venture capital in 2016. Notaras, a partner at the firm, said insurtechs are realising they sometimes need the help and expertise of established carriers so partnerships can be more helpful to them than investment. “Insurance companies have been very slow to understand that there is an opportunity for insurers to work with startups,” she said.