May 25, 2018
Last week, The Council attended Digital Insurance’s DigIn Conference. While the three-day event provided ample time for both networking and market insights, many of the trends and conversation were consistent with what we’ve seen over the past year.
Although insurtech funding continues to increase across all areas of the insurance value chain, we have yet to see groundbreaking change in the mid-large commercial property/casualty space.
Personal lines and small commercial continue to drive innovation, but both insurtech and traditional market players remain bullish that the mid-large market will adapt over time. Specifically, the broker sector continues to fall behind in both funding and innovation, and much of the technology being explored is focused on the distribution side.
Cyber was also a hot topic at the conference. Panelists agreed that there is much opportunity in this space, but a lack of historical data and understanding of a constantly evolving risk could lead to excess exposure.
Be on the lookout for The Council’s biannual Cyber Market Watch Survey results in the next two weeks!