What are the trends emerging and disrupting the insurance sector, and how are companies adapting their businesses to stay relevant? All this and more are explored in the State of European Insurtech 2022 report, published today by market intelligence platform Dealroom and Mundi Ventures and co-sponsored by NN Group and Spanish insurance company Mapfre.
The report covers current industry trends, emerging and potential disruptions, venturing reports as well as case studies of successful insurtech and fintech startups. NN, as a partner of Mundi Ventures and a company in (digital) transformation, is featured in the report via interviews with NN Group Management Board member Tjeerd Bosklopper and Head of the Strategic Transformation Office, Jeroen Meijers.
Tjeerd Bosklopper: ‘Today, digital transformation is key for insurers and it is without doubt also high on the agenda at NN Group. Digital interaction has become more widespread in insurance, but much is still needed in processes like pricing, underwriting and claims. There is a huge data availability, but how to actually use these data to make core processes truly digital is still a work in progress.’
The report was released on 29 June at the Digital Insurance Agenda (DIA) conference in Amsterdam, and the insights were discussed during a roundtable discussion.
Insurtech funding has slightly cooled off, but early innovation is stronger than ever
The report shows that insurance funding has slightly cooled off, mostly at late stage, but there is a USD 6 trillion opportunity to unlock and the insurtech sector is still heavily underfunded, compared to areas of similar potential such as fintech, health, and mobility.
Jeroen Meijers: ‘Everything in NN Group’s purpose starts and ends with customers: we help people care for what matters most to them. Technological advancements and new business models may be uncertain, but what is certain is our commitment towards customers.’
You can access the full report here: https://dealroom.co/reports/the-state-of-european-insurtech-2022