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Insurtech makes the Future of Insurance Exciting

Insurtech makes the Future of Insurance Exciting

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Roger Peverelli, co fundador de DIGITAL INSURANCE AGENDA – DIA – nos ofrece un adelanto de su intervención en la VIII Edición de INSURANCE WORLD CHALLENGES que tendrá lugar en Bilbao el 23 de septiembre y que se ha convertido en el mayor Festival de la Aceleración de la Innovación y la tecnología aplicada para España y la Comunidad Iberoamericana. Los que asistan podrán escuchar y establecer contactos – actif networking – con más de 17 Speakers y mas de 25 creadores de Insurtech seleccionadas del Observatorio – Radar de Community of Insurance.

Su artículo “no tiene desperdicio” y nos descubre el lado apasionante del seguro.

Una articulo lleno de motivación para todos los que trabajamos en la industria del seguro.

Las 4 olas de Insurtech según Roger Peverelli, Co fundador del mayor evento europeo de Insurtech e Innovación Aseguradora – Digital Insurance Agenda.

  • La primera: Desafíos 

  • La segunda: Facilitadores de soluciones

  • La tercera: Socios del Ecosistema

  • La cuarta: La cara humana del seguro

Ponente de INSURANCE WORLD CHALLENGES el 26 de Marzo en Bilbao – Palacio de Congresos Euskalduna.

By Roger Peverelli, co-founder Digital Insurance Agenda

The 2,500 insurtechs in our insurtech databas give us a pretty good picture of what has changed and how things will develop in the coming years. Looking back and ahead, we distinguish four waves of insurtech. With each wave driving the future of insurance in a new direction.


Back in 2016, ‘insurtech’ meant ‘challengers’. New entrants were out there to attack the established order. They took the lead in intelligent and innovative use of technology and data, designing new ways of working that solved the frictions that customers experienced when working with incumbents.

Of course, there is still sufficient room to improve here. But all these pain points are in scope of operational excellence and should therefore be solved shortly. Maybe this is the reason why so far only a few of these new players succeeded in acquiring a significant market share. The few winning new entrants are the ones that not only solve pain points, but which have a truly distinctive new business model on top of that.

Although the impact of Challengers in terms of market share may still be limited, the impact they have on market dynamics is significant. New entrants set new standards. Customers expect the traditional players to offer comparable innovative services as well. Incumbents need to step up to the plate, if they want to keep up.


This sense of urgency fueled the second wave. Many carriers are exploring the potential of new data streams; to improve pricing, to automate claims, to launch new proactive services. Teaming up with insurtechs is essential to accelerate innovation.

“Hacer equipo con insurtechs es esencial para acelerar la innovación.”

This reflects in our Insurtech Database. Among the 2,500 young tech companies worldwide around 80 percent are Enablers. They focus on assisting stablished carriers, to improve or renew specific parts of the value chain, or even help them to create new ones.

The promise of The Second Wave, the Enablers, is impact on the top line and bottom line of incumbents. Having said that, in spite of all the investments, pilots and proof of concepts with insurtechs; this impact is still limited.

Although The Second Wave of Insurtech hasn’t reached its full potential yet, we’re already looking at the Third Wave.


Ecosystems beyond insurance’ is the overarching trend for the years to come and the key driver for the Third Wave. The most effective way to reach out to customers is to be part of relevant ecosystems where people go to, to solve the real challenges they have in life. For instance, platforms around home, mobility and health.

Ecosystem thinking is about ‘services beyond covers’, even ‘beyond the boundaries of the insurance vertical’. You need to work together with the other companies that are playing a role. Also with sorts of new innovative tech companies in that space.

Consequently, it becomes irrelevant if a tech company is a ‘genuine insurtech’ or not.

Embracing other tech companies, from adjacent industries and relevant ecosystems, is The Third Wave of Insurtech. It is about increasing relevancy, opening up new business models and new revenue streams.

“La tercera ola de Insurtech abarca a otras compañías tecnológicas, de industrias adyacentes y ecosistemas relevantes. Se trata de aumentar la relevancia, abrir nuevos modelos de negocio y nuevas fuentes de ingresos.”


“Ya hay una cuarta ola en camino. Las nuevas tecnologías también ofrecen a los actores la oportunidad de aumentar su impacto social y económico y reiniciarse como una Fuerza para el Bien. Vemos más y más insurtechs con la misión de abordar importantes desafíos mundiales: la aplicación de nuevas tecnologías, con un importante impacto social y económico como resultado.”

There is already a Fourth Wave on its way. New technologies also offer carriers the opportunity to increase their social and economic impact and reboot themselves as a Force for Good. We see more and more insurtechs with the mission to tackle important global challenges: Applying new technologies, with significant social and economic impact as a result.

Think of how health insurers apply all sorts of connected devices and advanced algorithms to improve patient care, while decreasing total health care costs. Or think of new technologies that are helping to offset the damage caused by natural catastrophes such as hurricanes and floods.

The possibilities to increase the social and economic impact of the insurance industry with new technologies seem almost endless.

“Las posibilidades de aumentar el impacto social y económico de la industria de seguros con nuevas tecnologías parecen casi infinitas.”

What differentiates The Four Waves of Insurtech is the scope of application of each wave. With each wave the impact increases significantly. Offering new horizons to the future of insurance.

Acerca del autor

Somos una Empresa de comunicación y gestión del conocimiento asegurador en RED dirigida a las empresas y profesionales iberoamericanos, especializada en Comunicación Corporativa, Gestión del Conocimiento, Consultoría Estratégica y Eventos para la Industria Aseguradora.

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