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November 12, 2018

Current State and Future of InsurTech in France

InsurTech Radar 2018

Key Takeaway
With 131 InsurTechs identified in 2018, the French market has become one of the most dynamic in Europe.

Recent years have seen a major rise in InsurTech investments across the world, and France is no exception. In fact, a large share of these investments comes from insurance and reinsurance players, underlining their belief in an inevitable and necessary transformation of the industry as we know it.

In this context, Oliver Wyman and Policen Direkt developed the InsurTech Radar to better navigate through the growing number of InsurTech models and trends worldwide. Using our global InsurTech database and knowledge of the insurance industry, our objective is to shed light on the nature, dynamics and potential of InsurTechs in a structured manner.

This report, "Current State and Future of InsurTech in France, " concentrates on the French market, and analyzes the business models of the 131 active French InsurTechs we observed. It applies the same logic as our previous InsurTech Radar reports to enable easy market comparisons on an international scale.

Report Methodology

The InsurTech Radar framework follows the insurance industry value chain from proposition to distribution and operations. Within these three segments, we have identified 19 distinct InsurTech business model categories.

By grouping the observed French InsurTechs into the 19 business model categories we show what the current level of activity is, and give an overview of the French InsurTechs for each category. Further, for each business model category, we derive a strategic assessment of its attractiveness by combining market potential and chances of success.

Our report shows that there is a great diversity of InsurTech business models in France in 2018. This report reveals major coverage differences between business model categories, with some drawing a dense crowd of InsurTechs, while others have only attracted one or two InsurTechs.

Finally, the report shows that there is currently a major disconnect between the level of InsurTech activity and the relative attractiveness of the underlying business models. We can thus predict that affected InsurTechs will either drop out or pivot towards more attractive business models. These expected business model shifts will be accompanied by a second wave of InsurTechs aiming straight for the most promising currently underdeveloped radar segments.

Read the full report, "Current State and Future of InsurTech in France:  InsurTech Radar 2018" here .

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