Over the past couple of months, we have seen some potential moves into the Insurance sector by some big tech players, specifically Amazon and Softbank. We have covered both of those at Daily Fintech, here and here, for Amazon and Softbank respectively. Apparently, Google is looking to try out Insurance again, too.
On the incumbent side, we have seen carriers undergo a number of initiatives in the wake of the Insurtech movement that has increased over the past couple of years. We’ve seen carriers go about this in a number of ways: partnering with start-ups/experienced software providers, setting up in-house accelerators/incubators as well as corporate venture funds. There has been some M&A over the past couple of years, both within the P&C Insurance sector as can be seen in the chart below from CB Insights and in general, as can be seen here from Coverager.