12 March 2021 Insurtech case studies innovation in action As part of Information Age s Disruptive Innovation month, we looked at some insurtech case studies for examples of innovation in action
The number of insurtech companies has exploded over the last five years.
The insurance industry, like other traditional sectors, is experiencing a wave of disruption at the hands of more nimble, innovative insurtech start-ups.
In this article, Information Age explores six of these insurtech case studies, which are demonstrating innovation in action across insurance.
1. SO-SURE and win-win insurance
SO-SURE is an insurtech that was launched to meet a growing need for change in insurance an industry that has been too expensive, lacks transparency and has a painful claims processes.
This year’s cohort is heavily skewed towards healthtech companies, representing 18 per cent of the total.
The UK is now third in the world for healthtech investment after the US and China, and over the course of 2020 we saw an increase in early stage investment, from $2.27bn in 2019 to $2.32bn in 2020.
Healthtech companies among the fastest-growing tech start-ups include LabGenius, which develops new protein-based drugs using machine learning – lowering the associated costs and risks of drug development; Belfast-based Locate a Locum, which enables temporary healthcare workers to connect; Oxford-based Vitaccess, a platform which quantifies patients’ experiences of treatments and illness; and London-based Blink, a communications platform for Frontline workers.