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Is InsurTech Running Out of Steam?

Is insurtech – and indeed, the whole financial technology space – losing momentum?
October 24, 2017

Is insurtech – and indeed, the whole financial technology space – losing momentum?

According to a new report by the data analysis firm Tracxn, the number of new U.S. fintech startups fell from more than 1,000 in 2015 to 500 in 2016. The French finance publication Les Echos also reported that fintech start-up creation has significantly slowed in France, Germany, and the United Kingdom.

Meanwhile, Accenture said in a recent report, “There are signs that the financial sector transformation promised by these actors is stalled. The technological breakthroughs are real, but many fintechs are struggling to scale up. [Some start-ups have developed truly innovative technology] but have failed to capture the market. Early warning signs of the collapse of an integrated financial service provider model are appearing in the rate schedules of asset managers or private banks.”

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