Finding & Scaling the next Insurtech Unicorn
There has never been a better time to explore founding an insurtech start-up. Record funding and immense potential in the industry defined 2021 and looks set to continue for the foreseeable.
In the same way that many of us wish we could time travel back to 2012 and buy a stack of Bitcoins, many will now wish that they could hop in a time machine and set up an insurtech in 2018.
But there is still no time like the present for founders hungry to get into the insurtech game. There may be more competition than ever, but founders with the right solution to fit the right problems could still outpace the unicorns of the first insurtech boom.
Apple didn’t manufacture the first smartphone, Google didn’t develop the first search engine, and Meta didn’t design the first social media platform – but by entering into markets with the most elegant solution, timed perfectly before a stratospheric rise of consumer adoption, these companies emerged as tech giants with valuations larger than the GDP of a small nation.
We have yet to scratch the surface and we are likely to look back at 2022 in a few years as a point at which the insurtech sector was still very nascent, but explosive in its innovation and growth potential.
There is no greater greenfield opportunity in the tech sector right now than insurtech. This may sound unsurprising coming from us – we are Insurtech Insights, after all – yet for those who want to make their billions in the tech game, this is the place to be.