Council Post: How Insurtech Is Becoming The Next Digital Ecosystem

Sammy is the Founder and CEO of YuLife, the lifestyle insurance company providing life insurance, well-being, and rewards in one simple app. Insurtech was already a steadily growing sector within the larger tech, startup and fintech spheres when Covid-19 made landfall, catalyzed cross-industrial digitization and accelerated the boom. This growth has been marked by the rise of insurtech giants such as Wefox and Zego, both with recent valuations above $1 billion (making the latter the U.K.'s first insurtech unicorn). So, what exactly is driving this insurtech surge, and how can companies and entrepreneurs in the space be successful? The insurance industry has long been perceived as boring, staid and adversarial, and is thus in need of an all-encompassing root-and-branch revolution.