Insurance: The Now and the Never-Changing

This report is separated into three parts: Timeless, Timely (the bulk of the report), and Time Ahead.

The first section covers the DNA of insurance and refreshes your memory on Coverager’s Elements of Modern Insurance introduced in 2019. Here we revisit modernization, the role of agencies, the insurance customer, and the ultimate definition of insurance.

The second part is an overview of current events. We begin with deal flow—insurance funding rounds that took place this year—then move to insurer-investor activity, which is just a drop in the bucket compared to previous years. We highlight early-stage insurer-investments to uncover what still captures insurers’ attention. Still on current events, our segue Progressive Thinking sets the stage for AI applications in insurance. This chapter explores pilots, production efforts, and emerging initiatives, and concludes with agency consolidation and insurtech exits.

Timely analysis tied to current events includes coverage of Next’s acquisition, how Lockton refuses to go direct, and what success—or lack thereof—looks like at Pie and Cerity. The main takeaway: product absolutely dictates distribution method and the role of agents. We also share our first analysis of General Motors and its attempt to win market share – it is no Tesla.

We close on a positive note, …