CB Insights：2017Q4保险科技报告（英文版）（66页）（66页）.pdf

1、Cover Title 26/29 45 Light Black Cover Subtitle 12/15 65 Medium Black Quarterly InsurTech Briefing Q4 2017 January 2018 1 Quarterly InsurTech Briefing Introduction Rafal Walkiewicz Global Chief Executive Officer Willis Towers Watson Securities Foreword: The Sobering of InsurTech The fourth edition o

2、f our Quarterly InsurTech Briefing offers an opportunity to reflect on a full years worth of InsurTech activity in 2017 another year of record investment into the space from both financial investors and (re)insurers. 2017 brought a new trend to the industry, which we describe as the The Sobering of

3、InsurTech. Incumbents sent a clear message to potential disruptive outsiders: by investing heavily in start-ups and technology, (re)insurance companies appear to have assumed a semblance of control over the InsurTech revolution. During the year, conversations about disruption of the existing value c

4、hain evolved towards an efficiency-driven search for incremental innovation. However, technology revolutions rarely result in redistribution of power among incumbents. Instead, these developments more often produce an entirely new approach to the value chain that defines winners. Look at Amazon, Tes

5、la and Apple as examples, and consider the markets theyve taken from Walmart, GM, Ford, Kodak, Nokia and others. Insurance may not trace the same trajectory high barriers to entry associated with regulation, product complexity and the value of long- term customer relationships may shield incumbents

6、from large-scale disruption. It is also possible that incumbents collective response to InsurTech hype has diminished their ability to recognize true disruption. Should Incumbents Feel Safe? Our Q4 Industry Theme feature focuses on (re)insurers shaping InsurTech. 65% of incumbent investments to date