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August 31 2016 | Mark Breading

Boston, Massachusetts, August 31, 2016 – Strategy Meets Action (SMA), a leading insurance strategic advisory firm, and St. Nick Media Services (SNM), a public relations and consulting company specializing in the insurance industry, are pleased to announce the availability of a new joint research report: The InsurTech Universe: Understanding Company Positioning and Maturity.

This research report introduces The InsurTech Maturity Model, an approach which individuals, insurers, and interested investors can use to assess the InsurTech universe. Three stages are outlined to enable identification and initial evaluation of candidate InsurTech companies for monitoring, investing, or partnering. The report also provides practical guidance for developing strategies and putting plans into action.

 “The energy and investment in the InsurTech space is astounding,” said Mark Breading, SMA Partner and co-author of thereport. “However, it can also be daunting to assess which trends and companies are relevant and require the attention of a particular insurer. The InsurTech Maturity Model is designed to assist insurers to do just that.”

Research findings include the following:

  • There are now well over 500 InsurTech companies with the number growing every day.
  • Approximately 30% of the InsurTech firms are Distribution Disruptors, the largest category of startups.
  • True InsurTech potential is marked by more than secured funding, which must be accompanied by product maturity and successful implementations or program go-lives.

“The rise of InsurTech brings opportunities and dangers,” said Jennifer Overhulse, Principal Owner, St. Nick Media Services and report co-author. “Budgets invested in shiny objects generate zero returns, but thus far, following the money has been the only mechanism insurers, individuals, and interested investors have had for determining the worth of InsurTech firms. The maturity model included in this report provides a more concrete starting point for evaluation.”

Insurers, InsurTech companies, venture capital firms, agencies, and media that are interested in learning more should contact Mark Breading at mbreading@strategymeetsaction.com or 614.562.8310, or Jennifer Overhulse at jen@stnickmedia.com or 859.803.6597.