10 Startupbootcamp InsurTech’s own experience provides further evidence This is because “we are only now starting to see the types of businesses that the InsurTech sector is growing rapidly. Applications to the Startup- coming through that will have a big impact in the world of insurance” Dan bootcamp InsurTech program have almost doubled since last year, with an Smith of Exponential points out, “many are completing PoCs right now; it increasingly diverse and global range of businesses seeking support and won’t be long until they start delivering significant value”. acceleration. There was an even more international flavour to this year’s applications, including the first applications from Oceania (see Figure on There are already success stories. Take RightIndem, a member of 2016’s the next page). InsurTech is now a truly global phenomenon. Startupbootcamp InsurTech cohort. Its customer-centric claims software offers greater control to policyholders, speeds up resolution of claims Insurers themselves have become very active in the investment space de- and improves claims centre productivity for insurers. The company is now spite a pretty sluggish start. In 2012, just one insurer or reinsurer agreed working with six separate insurers, having completed several PoCs, and has a deal with a technology-focussed business, according to CB Insights; last an impressive global pipeline. year, that figure was 100. Startupbootcamp InsurTech’s own portfolio of partners (18 in total, encompassing 26 different brands) provides further evidence of the desire of the mainstream insurance industry not only to invest in but to forge partnerships with emerging InsurTechs too. We are only now starting to see the types of businesses coming through that will have a big impact in the world of insurance. Many are completing PoCs right now; it won’t be long until they start delivering significant value. Dan Smith, Exponential