TLDR:
State Farm, Aflac, and Gallagher are focusing on de-risking their startup investments in the insurtech sector. Carriers stress the importance of communication and collaboration with startups to drive success. State Farm Ventures uses the Three Horizons Framework to guide their investment decisions, while Aflac’s innovation team focuses on building relationships with insurtech startups. Clearcover, on the other hand, takes risks in developing AI-powered solutions for their auto insurance products.
- Insurance carriers are de-risking their startup investments in the insurtech sector
- Communication and collaboration are emphasized to drive success with insurtech startups
During a panel discussion at Insurtech Insights in New York, Katie Webb of Aflac emphasized the importance of building relationships with insurtech startups to drive success. Gino Bonacci of Gallagher highlighted the need for leadership to harness innovation team capabilities. State Farm Ventures uses the Three Horizons Framework to guide their investment decisions, while Clearcover takes risks in developing AI-powered solutions for their auto insurance products. Overall, carriers are looking to de-risk their activities while exploring new opportunities in the insurtech space.
