18 Across the lines “InsurTech started in the One notable feature of this year’s applicants to the Startupbootcamp program is personal lines space, which is not an increase in the number of startups focused on commercial lines of insurance. In 2018, 24% of applicants were commercial lines-focused, up from 14% last year unexpected as the disruptors’ first and 13% in 2016. focus is often on improving the One explanation for this increase is the huge data flow that connected devices customer experience... and the IoT are now generating; this has huge potential for risk detection and mitigation across broad swathes of industry. Meanwhile, the advent of ...More recently we’ve seen an opportunities to develop new products in areas such as cyber-security is also driving greater attention to commercial lines. emergence of innovative data and Still, such distinctions may become less relevant. Already, the proportion of analytics ventures that are focused applicants offering solutions applicable across multiple lines has climbed to 32%, on helping commercial operators up from 10% in year one of the Startupbootcamp program. too.” Hélène Stanway, Digital Leader of XL Catlin, comments on InsurTech’s move into commercial lines: “InsurTech started in the personal lines space, which is Hélène Stanway, Digital Leader of XL Catlin not unexpected as the disruptors’ first focus is often on improving the customer experience,” Stanway says. “There was then a transition into small commercial lines as these have many of the same characteristics as personal lines and the sector is ripe for automation. More recently we’ve seen an emergence of innovative data and analytics ventures that are focused on helping commercial operators too. That trend has been terrific for us as it means we are able to work with a wealth of startups that truly understand commercial risk and the way large re/insurers such as XL Catlin operate.”