The January issue of Best’s Review focuses on insurtechs and their impact on the industry. “Rallying Cry” discusses how incumbent insurers have shifted their view of insurtech startups from rivals to enablers of change. They seek to collaborate and partner with startups as a strategic move to achieve their ultimate goal—to meet their customers’ needs and remain relevant in this digitally disruptive world.
As insurers gain a better understanding of emerging technology and its uses, they have grown wiser in choosing the startups in which they want to invest. “Proof of Concept” examines how a number of carriers have set up venture capital funds to strategically invest in partnership-ready startups that are not only good investments, but can also co-develop solutions to their problems. Other insurtech topics covered in January include blockchain, digital strategy and how to build a better business model.
In the life insurance sector, new advances in genomics are also having a major impact. “The Time Is Now” explains how the life insurance industry finds itself at an inflection point as insurers come under growing pressure to position themselves to embrace genomics and genetic testing as advances come rapidly.