May 2020 – New digital insurers fall into six categories that present different opportunities and challenges for potential partners.

As the number of digital insurance companies continues to increase, traditional insurers can turn competitive threats into partnership opportunities. The goal of such partnerships is not to bring in new business but to experiment with new models for long-term viability.

Even insurers that do not have dedicated funds for startup investments or the inclination to form subsidiary digital brands still can find startup insurers who are looking to work with incumbents.

This executive brief reviews the six categories of digital InsureTech carriers and the impact/modernization to an incumbent insurer’s infrastructure necessary to partner with each successfully.