2021 Best Practices Study

Adapting to a Rapidly-Changing Environment

InsurTech Best Practices

A few notable InsurTech investments included:

Sources to find information

With this surge of investments taking place, it becomes imperative for industry leaders to stay informed on new developments. Unfortunately, the availability of published information is still very much in the early stages. The relative novelty of authenticated InsurTech sources makes it difficult to cut through the noise and find out what is actually occurring. Survey participants concluded that the best strategy for staying informed is to collaborate with other thought leaders. This collaboration can take many forms.

Industry Associations • Whether focused on InsurTech (e.g., BrokerTech Ventures) or more generally on insurance brokerage (e.g., the Big “I” or The Council of Independent Insurance Agents and Brokers), industry associations provide a multitude of resources for agencies to engage with and learn about InsurTech.

Authenticated Publications • Numerous outlets offer specialized reports and articles, featuring the latest InsurTech news and trends. For example, Willis Towers Watson produces a quarterly report with valuable financial statistics surrounding InsurTech growth.

Open Forums/Conferences • Throughout the year, membership organizations and associated industry firms host events that enable leaders to interact in face-to-face environments and directly share insights and ideas on what’s happening in the space. Reagan Consulting’s own bi -annual Agency Ownership Summit is just one example of how leading insurance professionals gather together to discuss the latest developments.

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