4 September 2019 09:30
Photo : Freepik
The number of mergers and acquisitions by insurers of damages is higher than that of insurers and market intermediaries. This is what says GlobalData in its latest report Digital Challengers in Insurance – Thematic Research.
The firm specialized in data and analytics argues that between January and may of 2019, the sector of damage insurance has recorded 26 transactions.
“The sector has outpaced the leaders of the last year, the insurers and market intermediaries, who have already signed 7 and 17 contracts in may 2019. The insurance has also increased its investments in start-ups, showing a form of innovation. The main products of the industry are being revolutionized by insurers offering simple fonts and digital products, ” explains Ben Carey-Evans, senior analyst in insurance for GlobalData.
In 2018, the intermediaries have completed 65 transactions, against 64 for p & c insurers and 53 life insurers.
Three sectors targeted by the investors
According to GlobalData, the car insurance, home insurance and travel insurance have innovated since the end of 2018, thus attracting investors.
Mr. Carey-Evans added that the trends in insurance are currently towards digital and towards the simplification of the purchasing process of police. “Insurers continue to cover the millénariaux, with the aim of offering the same level of service to which they are accustomed in other sectors. Competitors in digital are beginning to shape the insurance industry, particularly property and casualty insurance products, as they continue to innovate and improve the choice and service available to customers, ” he says.