Run Time: 32:15
Industry Gets InsurTech “Sea Legs”
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When you examine the last five years of insurtech hype, not much has changed in the legacy industry, argues insurance marketing tech consultant Chris Gagnon. On this recording, he suggests that niche insurtech players and tools enabling brokers will bear the most fruit. Chris say he believes the industry is "starting to get our sea legs around insurtech. And while there is room for improvement, no matter how much money you spend, these solutions don't point to an actual solution that the insurance industry isn't already appropriately managing." Not only that, Chris adds, "We don't need to fear insurtech. If anything, we should be happy other people are spending money and developing new tools. Insurtech is not a separate entity; it's part of the ecosystem." Further, he says, "The rhetoric around insurtech will calm down. Private equity demands to see a return within a certain period of time, and at least 9 pivot points. If you can't deliver on that rhetoric, you are gone."
