The financial dimension of the insurance sector makes it belong to the financial sector; however, in a way it also competes with the latter when considering the extent of the disruption created because of the arrival of new technologies and new companies in both sectors, called fintech and insurtech startups.
In this sense, and although the financial sector got a late start, the insurance sector is slowly advancing to the same level as the first one in terms of global investment volume. According to data from CB Insights, the volume of investments from venture capital funds in insurtech startups in 2016 reached the figure of $1,620 million.
Aware of this boom, Capgemini, one of the world leaders in consulting, technology and outsourcing, recently published a report that considers the top ten trends in the insurance sector for 2017.
In this first post we will delve into five of these trends that will profoundly transform the insurance industry globally.
This post is also available in Spanish.