Many Life Organizations Want Tech Startups: Aite Analyst
March 25, 2020 by Allison Bell
Before everything went to heck, many life insurance organizations had big plans for buying insurance technology startups, and, in some cases, nurturing new insurtech startups.
Samantha Chow, a senior analyst at the Aite Group, talks about life insurers’ shopping plans in a summary of results from survey of 22 life insurance organizations that was conducted in mid-2019.
Eighteen of the organizations in the sample are life insurers. One was a life insurance agency, one was a broker, and two fit in other categories.
About 95% of the participants describing creating efficiencies, and making it easier to increase and decrease capacity, as needed as a very important or important goal for modernizing digital systems, and 86% ranked improving customer experience as a very important or important goal.