Introducing the InsurTech Matrix

We’ve had a look at what’s new and exciting in insurance, what’s bubbling under, what’s likely to disrupt the market and what simply reflects better packaging and presentation of current insurance offerings. The matrix is designed to let you quickly see the diversity of offerings that are shaking the traditional insurance tree - it is based on what companies say they are doing, not necessarily what they are doing now (more on this later).

(UPDATE: the InsurTech Matrix now has a shiny new home)

This is a live document, developed by FS Team member Gabriela Isas, and we expect to update it from time to time. When you’ve had a look, pop over to its sister matrix, the Personal Finance Manager FinTech matrix to see what’s happening over there.

In creating the InsurTech matrix we had to decide what was in and what was out. In other words what criteria made a candidate for the matrix.

We hoped the categorisation of InsurTech would be crisp but it’s not the case - so we’ve used a combination of objective analysis and gut.

We looked for smaller newer entrants to the market who were innovating around the customer experience, around the product and what it is to buy or hold an insurance policy.

In claiming what they include in their proposition, many of the profiled InsurTechs talk about what’s on their roadmap rather than what they actually deliver in their current offering.

You can assess this by comparing the ‘what they say’ column in the matrix with what is currently offered by following the link we provide to the digital proposition.

Some candidates are digital pure-play - but not all.

The matrix contains some start-ups who haven’t yet made it to market, and some who’ve been in the game for a while - but are trying to shake it up.

As you look through the matrix you will see patterns across the propositions that reflect what is broken in mainstream insurance - these players are addressing this. Equally, there are themes in here that reflect new ways of thinking about what insurance could and should be.

Inevitably not all of these companies will last the course, but collectively they’ve done the research, worked out what could be done better and sought the funding to try to do it. In this they are doing us a service.

Please let us know what we’ve missed and give us feedback on what we could do better - or what you liked.