Reinsurers are getting closer to insurtechs

Investing in the technology companies designed to help reinsurers’ bottom line

Reinsurers such as Munich Re and Swiss Re are finding ways to partner with insurance technology, or insurtech, startups, according to an article published by Bloomberg.

For instance, Munich Re invests in more than half-a-dozen financial technology providers, which includes U.S. home insurer, Lemonade Inc. And Swiss Re launched a program last year to mentor “disruptive” insurance startups.

Related: Majority InsurTechs not aimed at disrupting, rather enabling insurance industry: InsurTechQC

Reinsurers are looking to invest in insurtech startups as a way to diversify their businesses without encroaching on the business of their big insurance company clients. The strategy could also mitigate the effects of low interest rates.

The full story is available on Bloomberg’s website.

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Transcontinental Media G.P.