Co-Operation Between Old And New Is The Key To Insurance Innovation

Incumbents and start-ups working together in harmony is the key to achieving the best possible innovation in the insurance sector, delegates heard at the latest Guernsey Insurance Forum.

James Sore, Chief Investment Officer of equity investment firm SyndicateRoom, was part of the second panel session at the recent London event, entitled 'creating a suitable environment for unicorns' – the term used for a start-up company valued at $1 billion.

Mr Sore said that, historically, start-ups had not been able to engage and make progress with incumbents with regards to implementing their ideas and technology, but the pressure nowadays to adapt and develop meant that incumbents were more open than ever to interacting with start-ups.