The personal lines space has been awash with articles about Amazon and Google entering insurance, however, there is another massive tranche of insurance that is ready for innovation: commercial lines.
Commercial insurance is often frighteningly complex and requires too much inside information for tech companies to find it attractive. As a result, commercial insurtech startups have been woefully underfinanced relative to insurtech companies addressing personal lines, meaning there is still way more headroom in the commercial space.
This article looks at:
• The opportunities available to insurtechs within the commercial lines space.
• Examples of existing innovations within commercial lines.
• Why there has been a lack of investment from start-ups so far relative to the personal lines space.