InsurTech ventures who struggled in the past are enjoying rapidly improving loss ratios, according to analysts at JMP Securities.
The investment bank also noted that it is expecting to see more companies in the industry improve their losses to be at or even below industry standars, according to Reinsurance News.
The analysts at JMP Securities added that early successes in the insurtech space have been disproportionately in the personal lines space, but added that several commercial lines companies are likely to follow.
The reason for the improved loss ratios were identified as more accessible data and commoditised products in the personal lines sector.
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