Best's Review

AM BEST'S MONTHLY INSURANCE MAGAZINE


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From the Editor's Desk
Insurtech Developments

Insurtech companies move into the spotlight in January, with a look at women-led insurtechs and insurtechs that move from MGAs to carriers. This issue also features our annual top audit and actuarial firms listing and our semi-annual trade show calendar.
  • Patricia Vowinkel
  • January 2020
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Insurtechs emerged onto the insurance scene a little more than three years ago, threatening to take legacy carriers by storm with their innovative use of new technology that would allow them to deliver a better customer experience.

The insurtech sector has been evolving since then as it has begun to work more closely with carriers and learn about the challenges involved with regulation, raising capital and bearing risk.

Coverage on Best's News Service highlights how interest in these companies has unfolded. In 2016, for instance, there were just 12 stories about insurtechs on the news service. In 2019, that number had surged to 168. Best's Review first featured insurtech startups and venture capitalists on its cover in January 2017.

January is Insurtech Awareness Month and in this issue, Best's Review features a special section on the insurtech sector.

In “Female Founders,” Best's Review spoke with some of the most prominent women in insurtech about their experiences in raising capital, launching startups and how they are working to encourage other women in the industry.

Women interviewed included Jennifer Fitzgerald, co-founder and CEO of Policygenius, Jennifer Byrne, co-founder of Quesnay, Clara Shih, CEO and founder of Hearsay Systems, Carey Anne Nadeau, founder and CEO of ODN and Kate Terry, co-founder and chief operating officer of Surround Insurance.

In “The Evolution of Insurtechs,” Best's Review looks at insurtechs that got their start as MGAs and are beginning to take on risk as insurance carriers. Best's Review spoke with Dan Preston, CEO of Metromile, Sean Harper, CEO of Kin, Adrian Jones, deputy CEO of P&C Partners for Scor as well as Rob Galbraith, an insurtech speaker and author of The End of Insurance as We Know It.

Best's Review spoke with these insurtech leaders at the 2019 InsureTech Connect conference in Las Vegas. The event last year brought together 7,000, up from 1,500 at the inaugural event in 2016. InsureTech Connect Asia will launch in June 2020 in Singapore.

A profile of Kevin Hogan, the chief executive officer of AIG Life &Retirement, is also featured. In “Life Reshaped,” Hogan discusses the business and the factors that influenced his decision to focus on the life insurance sector.

This issue also includes Best's Review's ranking of the top insurance audit and actuarial firms. These rankings focus only on independent accountants who audit an insurer's annual financial statements and on third-party actuaries who provide an annual statutory actuarial opinion regarding an insurer's policy and claim reserves.

These listings include only insurance companies with statements that listed auditors or external actuaries. The insurer population includes U.S. and Canadian companies that file with AM Best.

To read these and other features go to www.bestreview.com.


Patricia Vowinkel, Executive Editor, patricia.vowinkel@ambest.com


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