Maturing pool of targets will lead to spate of insurtech
M&A.
With tough market conditions showing no sign of easing,
(re)insurers will continue to evolve their business models in the
coming year, leaving no stone unturned in the quest to gain
competitive advantage, protect market share, reduce transactional
costs and drive growth.
Technology will be the key to this evolution. Innovation can
generate efficiencies at the back-end of the business as well as
opening up channels to reach new customers in new markets via new
distribution channels.
(Re)insurers have been switched on to this opportunity for some
time. Some are investing in-house, creating so-called 'digital
garages' to support the development of proprietary solutions.
Others are looking to team up with dynamic and innovative start-ups
that can deliver proven solutions or take stakes in these types of
businesses via corporate venture-style funding.
