Celent’s report, “Insurtech Accelerators: A Market Scan,” found that the number of InsurTech accelerators is on the rise all over the world. .
While the largest area is the property and casualty space, life insurance is attracting 24 percent of the accelerators. The report was released at the world’s largest InsurTech conference, InsurtechConnect,
Co-author Michael Fitzgerald, Senior Analyst, Celent’s Insurance Practice, said; “The majority of the value from insurtech will be created through effective partnerships between incumbents and startups. Accelerators facilitate these partnerships by working with all participants to increase the pace and effectiveness of change.”
Co-author Donald Light, Research Director, Celent’s Insurance Practice, added; “Participating in an insurtech accelerator provides one way for insurers to stay abreast of the changing insurance landscape. We were pleased to partner with our sister company, Guy Carpenter, on this report, which will help insurers understand this type of opportunity to work with insurtech firms.”