‘Insure-TECH’ or ‘INSURE-Tech’? Examining the startup journey to a ‘full-stack’ insurance company

The life insurance industry certainly has seen an increase in technologically-savvy InsurTech companies joining its ranks. But are these newcomers too focused on “tech” part of their names? Once a policy is placed, a whole world of administration, regulatory compliance and financial reporting consume significant resources at insurance companies. This article, published in the December 2022 issue of the Actuary, summarizes life insurance company functional areas that have been most affected by InsurTech, and other core competencies startups generally address when growing into bigger companies, including: 

• Branding, marketing and sales
• Legal and compliance
• Underwriting
• Actuarial
• Investments, operations, and accounting

Read the full article in The Actuary here.