The impact of coronavirus (COVID-19) on the insurance industry. What does this mean for the insurtech startups?

By Tech Startups

The effects of the coronavirus pandemic have been felt in the global economy, and also for startups. This is potentially problematic for those that are underfunded , as funding is projected to decline in the next months.

What does this mean for the insurtechs?

Some insurtech startups in a very early stage, may struggle with restricted or decreased access to venture capital. For others, coronavirus might be a catalyst to accelerate digital transformation in the industry. Insurtechs with strong technical infrastructure and digital solutions are oriented in a leading position , and may find an opportunity to outpace competitors; those that have not adapted to digital structures may face difficulties.

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