In the 2018 report 'Digital insurance in 2018' published by Mckinsey & Company, there was a clear correlation across insurance industries and where innovators were focusing insurtech products. For property and casualty insurance (P&C), Health and Life insurance, most insurtech companies focused on the distribution step of the value chain. 17 percent of all P&C innovations were focused in the distribution of insurance as of 2018.
Share of insurance innovations by insurtech companies globally as of 2018, by value chain position
The source added the following information "500 best-known commercial cases registered in the database (excluding wealth management–related innovations)."
* Includes underwriting and policy issuance.
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McKinsey & Company. (December 31, 2018). Share of insurance innovations by insurtech companies globally as of 2018, by value chain position [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1055410/share-of-innovations-in-the-property-and-casualty-insurance-industry-worldwide/
McKinsey & Company. "Share of insurance innovations by insurtech companies globally as of 2018, by value chain position." Chart. December 31, 2018. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1055410/share-of-innovations-in-the-property-and-casualty-insurance-industry-worldwide/
McKinsey & Company. (2018). Share of insurance innovations by insurtech companies globally as of 2018, by value chain position. Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1055410/share-of-innovations-in-the-property-and-casualty-insurance-industry-worldwide/
McKinsey & Company. "Share of Insurance Innovations by Insurtech Companies Globally as of 2018, by Value Chain Position." Statista, Statista Inc., 31 Dec 2018, https://www.statista.com/statistics/1055410/share-of-innovations-in-the-property-and-casualty-insurance-industry-worldwide/
McKinsey & Company, Share of insurance innovations by insurtech companies globally as of 2018, by value chain position Statista, https://www.statista.com/statistics/1055410/share-of-innovations-in-the-property-and-casualty-insurance-industry-worldwide/ (last visited November 22, 2024)
Share of insurance innovations by insurtech companies globally as of 2018, by value chain position [Graph], McKinsey & Company, December 31, 2018. [Online]. Available: https://www.statista.com/statistics/1055410/share-of-innovations-in-the-property-and-casualty-insurance-industry-worldwide/
