"Whether risks are covered by people or technologies, insurtech poses no existential threat,” Colello said, during a keynote at Digital Insurance’s Insurance & Analytics conference in Boston.
While some insurance carriers may fear displacement by insurtechs, Axis Re views startups and their distribution models as partnership opportunities, according to Jon Colello, the reinsurer’s president and chief underwriting officer. "Whether risks are covered by people or technologies, insurtech poses no existential threat,” Colello said, during a keynote at Digital Insurance’s Insurance & Analytics conference in Boston. This holds especially true in specialty lines, he adds, where many insurance policies are custom underwritten and each customer demands a specific value chain for their unique risk.Unlike personal lines, where most of the interaction is directly between the insurer and customer, the broker—whether retail or wholesale—is also always depended on to play the role of consultant.
https://www.dig-in.com/news/axis-re-exec-on-scaling-insurtech-in-specialty-lines
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