Gartner Research

Market Insight: IT Services Provider Insurtech Strategies for Growing Market and Wallet Share

Published: 26 February 2020

ID: G00387352

Analyst(s): James Ingham

Summary

Insurtech continues to attract attention in the insurance market for its innovative and disruptive approach. Product managers at IT services providers looking to grow market and wallet share should strategically consider alternative strategies beyond incubation and partnering.

Table Of Contents

Analysis

  • Not All Insurtechs Are the Same
  • IT Services Companies Have a Range of Motivations to Work With Insurtechs
  • Examine Five Insurtech Strategies to Understand the Expected Impact on Market and Wallet Share
    • IT Services Providers Favored Incubation in 2018 and 2019
    • Catalysts Are Preferred for Partnering, but Some Partnering Activity Is Occurring With Complementors and Even Competitors
    • Ecosystems Forming Around Emerging Technology Enable Early Exposure to Technologies Such as Blockchain
    • Limited Public Insurtech Investments Over the Last Two Years Show Low Appetite
    • The IT Services Market Lags the Software Market in Insurtech Acquisitions
    • The Insurtech Strategy Map

Background and Context

The Impact

Conclusion

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