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MindWorks Ventures: Global Insurance Report 2019

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The report includes an overview of the global insurance industry, overall trends across both incumbent insurers and insurtech, and a deep dive on emerging technologies within the sector.

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MindWorks Ventures: Global Insurance Report 2019

  1. 1. Global Insurance Report
  2. 2. Executive Summary Industry Overview Incumbents InsurTech Outlook 2
  3. 3. 3
  4. 4. US and Americas Europe Asia-Pacific 4
  5. 5. 5 HSBC Insurance Old Mutual International
  6. 6. Amazon Alphabet Apple
  7. 7. 7 Founded Market Cap Investors Largest shareholders:
  8. 8. 8 Actuarial Models and Product Design • • • • • Marketing, Distribution, and Channel Management • • • • • •Front Office Product Design Underwriting New Policies • • • • • Policy Acquisition and Servicing • • • • • Policy Administration Claims Servicing and Payout • • • • •Claims Management
  9. 9. 9 PRODUCT DESIGN Pentation Analytics Getsafe massUp Zebra Cape Analytics Health IQ Proformex Clark FRONTOFFICE UNDERWRITING POLICY ACQUISITION& SERVICING CLAIMS SERVICING& PAYOUT Shift Technology ONE
  10. 10. Enablers, Distributors Full Carriers Augmentative innovators Disruptive innovators 10 Insurtech categories and classifications
  11. 11. 11 Insurtech Categories and Classifications — Examples Insurtech Firm Type Product/Services Offered Example
  12. 12. 12 CAGR (2014-2018) 869 2,688 1,682 2,212 4,100 Insurtech Annual Finding (US$ million), global, 2014-18 47.4% Insurtech startups – company profiles Name Country Founded Website Funding Stage Total Funding Investors Insurance Sector
  13. 13. 13 Name Country Founded Website Funding Stage Total Funding Investors Insurance Sector Name Country Founded Website Funding Stage Total Funding Investors Insurance Sector Name Country Founded Website Funding Stage Total Funding Investors Insurance Sector
  14. 14. 14 Industry adoption Market strength Transitory Necessary Experimental Threatening NExTTFRAMEWORK Necessary Smartphone usage-based insurance (UBI):
  15. 15. 15 Geospatial analytics: Virtual auto claims Robotics process automation (RPA): Experimental Embedded home insurance: Cyber risk analytics
  16. 16. 16 Commercial data augmentation Commercial auto telematics Commercial data automation Smart home sensors: Threatening Transitory Conversational AI: Insurtech-as-a-service
  17. 17. 17 • • • • • •
  18. 18. 18

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