Insurance a $5 Trillion Digital Prize
With $5 Trillion in premiums, an incredibly low level of customer satisfaction, aging infrastructures, an analytically based – high volume business model, and a “wait until we have to” approach to innovation, insurance is now fully in the sights of the most disruptively innovative engine on the planet, Silicon Valley. The tipping point for insurance is here, Over 75 digitally born companies in Silicon Valley including Google, and Apple are in the process of redefining the rules and the infrastructure of the insurance industry. Join us for an inside look at the companies and trends driving that tipping point and insights on how to capitalize on it at #insdisrupt.
Inside the Insurance Tipping Point – Silicon Valley | 2016
It’s one thing to listen to all of the analysts talk about the digitization of insurance and the disruptive changes it will bring. It’s quite another to immerse yourself in the amazing array of companies, technologies and trends driving those changes. This post is the first of an ongoing series that will give you an inside look at the visions, culture and disruptive innovation accelerating the digital tipping point for insurance and the opportunities that creates for companies bold enough to become part of it.
A look Inside the Tipping Point
Venture firms are catalysts for much of Silicon Valley innovation, and insurance has their attention. Here are a few examples of firms fueling the digital future of insurance. Frank Chen, of Andreessen Horowitzsees software as rewriting the insurance industry, AXA insurance has established an investment and innovation presence here. Others like Lightspeed Ventures, Ribbit Capital, and AutoTech Ventures, are investing in data and analytics, new insurance distribution plays, and other technologies that will change the shape of insurance.
