Munich Re and its subsidiaries have been more active than rival Swiss Re on the startup investment and partnership front over the last year. The Re-insurers have the capital and "own" the part of the value chain to take out the middle part of the value chain and partner with new distributors.
In Swiss Re’s recent annual letter, Chairman Walter Kielholz wrote, “Today more than ever, some of these intermediaries run the risk of getting disintermediated sooner rather than later because they are unable to adapt their business model, disruptors are penetrating their markets or technology is changing the entire industry.” While insurers ranging from AXA and Allianz to MassMutual and Liberty Mutual have gotten busy in tech startup investing, leading reinsurers Swiss Re and Munich Re and their subsidiaries have also explored a number of strategic moves across the startup landscape in their own right.
https://www.cbinsights.com/blog/reinsurance-tech-startup-moves/
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