The launch of startupbootcamp Insurance is an important step in letting entrepreneurs and investors know that the insurance industry is as hungry for innovation as the rest of the FinTech world, even if the volume of activity and degree of discussion on the topic has been only a fraction of that around payments, peer-to-peer lending, currency transactions etc
Innovation in the insurance sector remains under-serviced, but insurance executives are starting to think about transformation of the industry. A recent report conducted by Accenture found that 59% of insurance executives expect their competitors to make strategic acquisitions of digital insurance startups over the next three years, in order to better position themselves in a changing marketplace.
