Big news for insuretech today and it’s not good. PURE sold itself for $3.1B to Tokio Marine. This is a great outcome for PURE and they are to be congratulated on building such a successful business in a relatively short time (11 years). However, this is pretty terrible news for Continue Reading
Why Successful Insurance Innovation Fails To Create Value
Short story: All the value goes to the consumer I previously wrote about my skepticism surrounding insuretech’s ability to succeed. Today, I will focus on why innovation won’t succeed for incumbents either. Let’s agree on some definitions first. A successful innovation is one that improves the competitive position and financial Continue Reading
Insuretech: Overhyped and Overvalued
Yes, I’m going to be the old codger who tells you things were better in the good old days when insurance companies were named for cities and farmers and America rather than sugar water and trees. Recent media leaks suggest Lemonade is looking to go public. Surely, it will be Continue Reading
Notre Dame and the Opportunity for Insuretech
Quick Hits:1. Notre Dame was preventable.2. Loss prevention creates a lot of value.3. Sometimes the best “innovations” are improving what already exists rather than creating something new.4. Loss prevention as a service could be a great insuretech business model. Don’t “Disrupt”, Solve a Problem! I have generally rolled my eyes Continue Reading