CAGR of the global Insurtech market revenues between 2019 and 2025
(Mordor Intelligence)


global investment in Insurtech in 2020
(Willis Towers Watson)


expected value of the global insurance analytics market by 2027
(Grand View Research)

Insurtech: one of the fastest moving industries in 2021

Nowadays, insurers have to address fast-evolving trends - from administering policies in line with new regulation to adapting pricing to new customer expectations. The sector has also been shaken by unprecedented events such as natural disasters related to climate change and the Covid-19 pandemic.

Meanwhile, the insurtech ecosystem is flourishing with more innovative players entering the arena than ever before in various fields, from P&C to L&H insurance.

Across industries, tech giants (GAFA, BATX) have earned more customer trust with their excellent Covid-19 crisis response. Indeed, 44% of consumers were willing to purchase insurance from Big Tech in 2020, up from 17% in 2016 (source: Capgemini). Those new players are addressing the needs of policyholders who are looking for personalised and interactive experiences, through innovative insurance products and adaptative premiums.

Increased penetration of insurtech startups all along the insurance value chain

Insurtech startups are securing significant market shares throughout the insurance value chain, from marketing to claims handling and settlement.

Insurtech players are opening new distribution channels, expanding the customer experience. The increasing volumes of available data and the rapid growth of data analytics tech also allow for innovation in pricing and underwriting. Indeed, data collected through connected devices is enabling new forms of underwriting and powering more accurate KYC for better risk modelling. AI has made it possible to mine this data to then develop new cross-functionalities. Lastly, innovative technologies are empowering fraud detection and claim handling, which in turn help streamline the claims process and optimise insurers' loss ratio.

Many insurtech startups go beyond the traditional insurance scope. They are expanding to peripheral services, such as housing services or legal protection, which offer higher margins and volumes for the insurer. As life expectancy increases and hazards are intensifying both in frequency and severity, insurers are adopting a more proactive approach to risk management through prevention.

What if insurers became partners in the quest to live longer and healthier lives? The trend sees insurers becoming more service-oriented, getting closer to their customers and obtaining a better understanding of portfolio risk.

Transforming your insurance activity through data management and new business models

Early Metrics supports the innovation teams of insurance players in gaining a better understanding of next-generation solutions developed by startups, examining new insurance models as well as automated and data-driven solutions.

Innovation in the insurance industry is accelerating, but not all technologies and new business models are close to corporate adoption as of today.

By accessing knowledge on the dynamics at stake, incumbent players will be able to leverage new technologies to create innovative products, harness insights from new data sources, streamline processes and lower costs. In turn, insurers will have the tools to anticipate and exceed customer expectations for individualisation and dynamic adaptation.

View our solutions
insurtech startups-person smiling at laptop-early metrics

Relevant tech trends include…

Insurance as a service-icon

Insurance as a service

Regtech and KYC-icon

Regtech and KYC


AI-driven risk modelling

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