With a new year, comes speculation if this will finally be the year that the insurance industry will be disrupted. The reality is that it will be more of an evolution rather than a complete shake-up due many factors including the complex insurance regulatory environment, significant capital requirements among there factors. It appears that the trend is also moving towards partnerships rather than true stand-alone ventures and that traditional insurance companies are major funders of most InsureTech firms (I don’t think Yellow Cabs invested in Uber). In a look at Who Will Disrupt the Insurance Industry in 2017?, the likely candidates are Oscar, Trov, Cyence and Lemonade. The real disruption will occur when the insurance industry aligns itself with consumers through a best practices standard as exemplified in The Insurance Bill of Rights.
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