{"id":23832,"date":"2017-05-24T08:44:39","date_gmt":"2017-05-24T06:44:39","guid":{"rendered":"http:\/\/cms.munich-startup.net\/?p=23832"},"modified":"2024-04-17T11:22:59","modified_gmt":"2024-04-17T09:22:59","slug":"insurtech-misses-the-market","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/23832\/insurtech-misses-the-market\/","title":{"rendered":"InsurTech startups often work outside the market"},"content":{"rendered":"

After a first InsurTech<\/a>-Hype, a recent study puts the industry to the test: A second wave of InsurTech startups must specifically target high-potential market segments. This requires more expertise than before.<\/strong><\/p>\n

A study by Oliver Wyman and Policen Direkt identified more than 1,000 InsurTech startups. The authors examined the potential of individual segments of the insurance market and compared it with the activity of InsurTechs. Nikolai D\u00f6rdrechter<\/strong>, Managing Director of Policen Direkt and co-author of the study, says:<\/p>\n

"Hardly anyone underestimates InsurTechs these days. The more interesting question: Where do they overestimate themselves?"<\/p><\/blockquote>\n

InsurTechs need more industry knowledge<\/h3>\n

Dietmar Kottmann<\/strong>, Insurance Partner at Oliver Wyman, believes that many European insurance startups are operating out of touch with the market:<\/p>\n

"European InsurTechs are particularly strong in offering situational and community-based products \u2013 yet neither of these areas is particularly profitable."<\/p><\/blockquote>\n

The supply and sales business areas, in particular, are overstaffed. This is likely also related to another finding of the study:<\/p>\n

\u201cToday\u2019s first wave also included startups that had little industry knowledge,\u201d<\/p><\/blockquote>\n

says Kottmann. And these non-specialist startups focus on areas they already knew from other industries, such as e-commerce. D\u00f6rdrechter predicts:<\/p>\n

\u201cA second wave of significantly better-positioned InsurTechs will come \u2013 with more industry knowledge and smarter approaches.\u201d<\/p><\/blockquote>\n

Opportunities lie in the niche<\/h3>\n

He expects that European InsurTechs in particular will fill existing gaps and sees investors as having a responsibility:<\/p>\n

"It will be exciting to see how they react to the first defaults. And to what extent they are willing to participate in the upcoming, more expensive financing rounds."<\/p><\/blockquote>\n

Co-author Kottmann sees attractive opportunities in startups that digitize operations. This applies to technologies that support sales, facilitate claims processing, and optimize core insurance processes.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

After an initial InsurTech hype, a recent study puts the industry to the test: A second wave of InsurTech startups must specifically target high-potential market segments. This requires more expertise than before. A study by Oliver Wyman and Policen Direkt has identified more than 1,000 InsurTech startups. The authors examined the...<\/p>","protected":false},"author":26,"featured_media":23837,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5634,1],"tags":[757,157],"acf":[],"yoast_head":"\nInsurTech-Startups arbeiten h\u00e4ufig am Markt vorbei - Munich Startup<\/title>\n<meta name=\"description\" content=\"Eine aktuelle Studie sieht die InsurTech-Branche in der Konsolidierung: Startups m\u00fcssten gezielt Marktsegmente mit hohem Potenzial angreifen.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cms.munich-startup.net\/en\/23832\/insurtech-misses-the-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"InsurTech-Startups arbeiten h\u00e4ufig am Markt vorbei - Munich Startup\" \/>\n<meta property=\"og:description\" content=\"Eine aktuelle Studie sieht die InsurTech-Branche in der Konsolidierung: Startups m\u00fcssten gezielt Marktsegmente mit hohem Potenzial angreifen.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cms.munich-startup.net\/en\/23832\/insurtech-misses-the-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Munich Startup\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/munichstartup\/\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-24T06:44:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-17T09:22:59+00:00\" \/>\n<meta name=\"author\" content=\"Simon Tischer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@munich_startup\" \/>\n<meta name=\"twitter:site\" content=\"@munich_startup\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" 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