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They do something with technology to either sell new kinds of insurance or sell certain kinds of insurance better. That usually involves either 1. Coming up w
by zero_shift 4y ago
They do something with technology to either sell new kinds of insurance or sell certain kinds of insurance better.
That usually involves either
1. Coming up with a better pricing / risk model that lets them underwrite certain risks for less than their competitors
2. Coming up with a better way to provide / sell insurance to people, including better forms of brokerage (such as comparison services)
3. Selling things that do (1) or (2) to other businesses. Think of how post-Monzo a bunch of companies offer "challenger banks in a box".
When I worked in insurtech, we were doing all three.
- jsiaajdsdaa 4y agoI also worked in insurance technology on the first point you've mentioned. Most of what I was trying to do was implementing the business logic of a worker's comp company that was attempting to optimize risk across different states, and comply with what regulators permitted. It was all in excel and just needed to be ported to something more modern and future proof.