Date: Dec 2016
Burnmark has looked at the technological changes in the insurance space and analysed the full database of experience-building as well as process-improving InsurTech startups globally.
Connected devices in insurance (smartphones, wearables, home diagnostics, drones, etc.) form one of the fastest growing spaces within InsurTech. 87.7mn US adults, about 38% of them, are expected to use a wearable device in 2019, a growth mainly fuelled by smartwatches and wristbands. All of these devices create new and interesting data and potential for automation that InsurTech startups are utilising to a large extent.
Cyber insurance, machine learning in underwriting, micro insurance, price comparison apps for insurance and legacy systems transformation are some of the other areas we have looked at in the report. We have also looked at some of the recent regulatory changes, including Solvency II.
We feature case studies from Kasko, Roost and MotionsCloud in the report.
To obtain the database of all InsurTech startups including their focus areas,