How can they innovate? There is a lot of "insuretech" out there right now. There has been a relatively large shift into direct-to-consumer insurance as well, ra

How can they innovate? There is a lot of "insuretech" out there right now. There has been a relatively large shift into direct-to-consumer insurance as well, rather than needing to go through an agent. On the tech side, for example, there are companies like Root and Metromile on the auto-side who are doing per-mile / driving habit pricing based on logged activity in your car. You can also innovate a lot on the claims-side to make the product easier to use. Lemonade is doing this with homeowners and renters insurance, allowing you to just take photos of your claims. Innovation can also happen on the backend with things like automating claims that can help drive down cost to increase margin or offer more competitive rates. Finally, the innovation has always happened on the actuarial side to better assess risk so it can be priced in a way that reduces the risk on the insurer. There is a fair amount of vertical integration happening already. Finding ways to reduce "retail" pricing for claims for insurance companies is a pretty big deal.