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Eight of the 22 organisations Aite Group surveyed said they were already investing in insurtech startups through established venture capital funds, and two more said they hoped to start doing that, either in 2020 or in a later year.
The potential impact of COVID-19 on insurtech investments
- Most skilled insurtech developers are comfortable with working from home
- The costs of many insurtech projects are small relative to life insurers’ overall administrative budgets
- Life insurers may need new forms of technology to do business in a new environment