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I spent fairly a little bit of time recently wanting on the newest in insurtech. What’s nice about zooming in on a sector is that I hear issues that I didn’t anticipate. Speaking to buyers has additionally helped me affirm a few of my instinct on subjects like money diversification and M&As. — Anna
Insurtech faceoff: B2B vs. B2C
Once I reached out to buyers just lately for our newest insurtech survey, I used to be curious to understand how the economic system was affecting insurance coverage buy choices and whether or not this made B2B corporations extra interesting to VCs than their B2C friends.
My reasoning was that inflation may very well be weighing so closely on household budgets that they might resolve to chop down spending on bills akin to insurance coverage. Maybe not the very best name, but when it’s both meals or higher insurance coverage, the selection turns into simpler.
Whereas companies have additionally been seeking to reduce prices, they’re much less more likely to forgo insurance coverage, particularly for the dangers they’re extra uncovered to. For insurtech startups, this could create an surroundings by which it’s simpler to promote B2B merchandise than B2C ones. However is it truly the case?
As standard, it seems that the reply is extra sophisticated than a easy sure or no — but additionally extra attention-grabbing.