InsurTech weekly: The End Of Insurance & Banking Innovation ?

1️⃣ What matters in the current InsurTech market

Market uncertainty in 2022 affected investment priorities. Full-stack disruptors will likely suffer due to the significant capital they need to handle their low profitability. North America still leads the way in funding, while European InsurTech target higher profitability markets.

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2️⃣ The future of Electric Vehicles

The global auto industry is undergoing a sea change, with implications for the energy sector, as electrification is set to avoid the need for 5 million barrels of oil a day by 2030. Global sales of electric cars are set to surge to yet another record this year, expanding their share of the overall car market to close to one-fifth and leading a major transformation of the auto industry that has implications for the energy sector, especially oil.

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3️⃣ Room still available for FinTech innovation

The rapid rise of the sector notwithstanding, fintechs on average lost more than half their market value in 2022—a plunge we believe is a short-term correction in an otherwise long-term positive trajectory, as the industry’s fundamental growth drivers haven’t changed. The overall financial services industry is enormous and very profitable yet struggles with innovation and customer experience. More than half the world’s population remains unbanked or underbanked, and technology continues to unlock new use cases in leaps and bounds.