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It's been a good ride over the last year for the insurance technology ("insurtech") community. In 2015, insurtech raised over $2.6 billion. In the first quarter of 2016, insurtech broke a record for money raised.
And yet, I am looking at the companies that are emerging from these fundraise events, and I keep thinking, "Really, that's it?"
There have been some outliers. Lemonade and other peer to peer companies are interesting to me because they have an opportunity to create fundamentally new technology that connects people and just happens to also provide insurance through the connection. I am still awed by the magic of Uber and I hope a Peer to Peer company can replicate that experience.
But when it comes to other insurtech innovations emerging with funding rounds -- well, I am a bit underwhelmed. I call these companies the Aggregators and the Process Improvers.