Did insurtech live up to the hype in 2023?
January 3, 2024 by Doug Bailey
The hype died, the venture capital money dried up, and 2023 might have been the year the insurtech business came face to face with reality, abandoning notions of massive technological revolutions, transformations, and disruptions, and settling into the cold, hard vagaries of the traditional insurance market and reasonable values.
“I think by most measures and for the most part, [insurtech] hasn’t delivered—at least not on its most exuberant promises,” said Dale Gonzalez, chief product officer at Axio, a leading Software as a Service (SaaS) provider of cyber risk management and quantification solutions. “We’ve certainly seen tech applied to the consumer space successfully.
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