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The insurance industry is inherently collaborative. Risk managers, brokers, and carriers all must find ways to share data about risk, assets, and claims in a way that maintains a stable value chain. InsurTechs introduce an entirely new form of collaboration into the industry. Collaboration is necessary for the survival of new InsurTech distributors. Most InsurTechs are not capitalized enough to become carriers at inception, so they rely on carriers to lend their licenses, balance sheet, and reinsurance capacity to get them started. Similarly, InsurTech solution providers rely on carriers and brokers to purchase and integrate their software into an existing value chain.

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