Digital Challengers in Insurance – Thematic Research

The insurance industry took longer to embrace the trend of digitalization than other sectors, such as banking. However, this is now undoubtedly one of the industry’s key trends. Incumbent insurers have showed improvements in recent years, but it is the rise of tech-savvy insurtechs that is forcing these changes. One of the key trends has been the rise in partnerships. This is due to the huge cost and regulatory requirements attached to underwriting, making it easier for insurtechs to specialize in certain areas and help insurers. Digital challengers have still caused a great deal of disruption, either by moving the industry forward and threatening to leave incumbents that do not interact behind, or by creating new lines or ways of constructing policies.


Global insurtech investment was just under $3.4bn in 2018, as the industry saw over 80% growth.

The number of deals also grew, but it was the average price of deals soaring that caused the significant increase in value.

Incumbents need to adapt and digitalize. as while startups do not pose a direct threat other incumbents choosing to partner with them could result in them being left behind.

Reasons to buy

Benchmark yourself against the rest of the market.

Ensure you remain competitive as new innovations and insurance models begin to emerge.

Learn about the key trends that these digital players are targeting.

Companies mentioned

AON, Willis Towers Watson, Arthur J. Gallagher, Marsh, AIG, Simply Business, Brolly, Tapoly, Datong Broker, Wrisk, Knip, Slice, Trov, AXA, Aviva, Zurich, Hiscox, Allianz, Chubb, Travelers, Tokio Marine, China Life, Sun Life Assurance, Zhong An, Lemonade, Oscar, Bought by Many, Metromile, MoneySuperMarket,, GoCompare, Compare the Market, CompareXpress, CompareHero, Honcho, Policy Bazaar, Comparechecker, Cambridge Mobile Telematics, Oscar Health, Devoted Health, Bright Health, Medi Assist Healthcare Services, Gusto, Prima Assicurazioni, Collective Health, Root Insurance, Google, Amazon, Samsung, Facebook, Apple, By Miles, Cuvva, Fizzy, Jetty, Neos, Pitpat, Toffee, Vitality, dacadoo, DeadHappy, VouchForMe

Table of Contents


Technology briefing


Artificial intelligence (AI)

Big data

The Internet of Things (IoT)


Technology trends

Industry trends

Regulatory trends

Macroeconomic trends

Industry analysis

Competitive analysis

Mergers and acquisitions (M&As)


Value chain

Product development

Marketing and distribution

Underwriting and risk profiling

Claims management

Customer service

Companies section

Collaborating companies

Challenger companies


Further reading

Appendix: Our thematic research methodology


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