NEWS: How to ensure successful InsurTech and Insurer collaboration
“Why InsurTech and Insurer Collaborations Often Fail ” from our own Manjit Rana, Managing Director of Corporate Innovation, this article discusses the challenges and opportunities behind successful InsurTech and Insurer collaborations. Startups can bring a wealth of opportunities for rapid growth and new revenue opportunities for corporates who are challenged by internal limitations or even politics to drive the same level of innovation. And startups can benefit significantly from the structure, data and customers that Corporates are able to bring to the partnership. This combination makes these partnerships so powerful. However, despite the willingness for collaboration typically only 25% of partnerships once they hit Proof of Concept ever make it any further. But there are things you can do to ensure a successful Insurtech and insurer collaboration.