Insurtechs gain customers during the pandemic

210 Insurtechs exist in the DACH region. Most of them profit during the Corona pandemic. One study still sees gaps in the market.

Insurtechs have benefited for the most part during the Corona pandemic and were able to acquire new customers, according to a study. Eighty percent of the startups have been able to gain new customers, with a third of them gaining more than 50 percent. Seven out of ten Insurtechs have greatly expanded their new business in the past 18 months. This is the result of the "InsurTech Radar" by Oliver Wyman and Policen Direkt, which monitors the scene in the so-called DACH region - i.e. all German-speaking countries. Oliver Wyman is an internationally active management consultancy with more than 5,000 employees.

The study sees fewer start-ups than a few years ago. Due to some market exits, the number of insurtechs in German-speaking countries remains stable at 210, of which 30 are already in the scale-up phase. The authors of the study see technology-driven insurtechs on the rise. "We continue to see good opportunities for start-ups in fields that are currently still understudied," says Dietmar Kottmann, partner at Oliver Wyman. In the study, the two fields "neocarrier - digital product innovation" and "new digital risks" in particular are still underrepresented.