Consolidation Looms for InsurTechs, MGAs

Insurtechs and online MGAs increasingly will be folded into tech-enabled carriers and marketplaces. That’s the prediction of Bryan Davis, who leads VIU, HUB’s online insurance platform for consumers and business partners. Most insurtechs aren’t profitable, he says. On this recording, Bryan outlines the underlying reasons why the pressure is on insurtechs, such as more expensive investment capital and incomplete end-to-end technology. He also challenges agents and brokers to focus on sales and leave back-end processing and follow-on service instead to efficient business partners. Also, for all the emerging talent needed to join the insurance industry, Bryan defends the value of the beleaguered liberal arts degree.

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