Hurricane Harvey: An Insurtech Case Study

 Friday, July 19, 2019

 Insurance Thought Leadership

Storms of unprecedented power have lashed the U.S. and the Caribbean in recent years, leaving a trail of devastation estimated in the tens of billions of dollars.

The U.S. alone has experienced 212 natural disasters since 1980 with the overall costs totaling $1.2 trillion, according to the National Oceanic and Atmospheric Association (NOAA).

As a venture investor interested in fintech, I get sight of quite a lot of innovative insurtech startups hoping to be the next big thing in insurance. Barely any of these businesses are focused on improving claims management. Why is that?

Perhaps claims are considered the least sexy aspect of the insurance industry, a necessary evil if you like.