Spotlight

The New Insurtech Product Playbook

How Leaders Can Drive Profits as Marketing Takes a Back Seat

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About This Report
Today’s insurtech product leaders need to drive profitability with products and journeys that boost retention, simplify acquisition, and promote organic growth. And they must do so at a time when their organizations are cutting costs.
Table of Contents

Executive Summary

As insurtechs’ profitability struggles slash marketing budgets, the burden is heavier than ever on product and technology leaders to drive bottom-line growth. Understanding which strategies can help insurtechs stand out and bring in value will be key to their success.

Key Question: How can product leaders contribute to driving their insurtechs’ profitability?

KEY STAT: Insurtechs saw funding plunge 42.2% year-over-year (YoY) in H1 2022, as investors grew frustrated with their lack of profitability. Product leaders must now prioritize profits above the “growth at all costs” model many insurtechs have followed for the past several years.

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    Table of Contents

    1. Executive Summary
    2. Profitability Is Insurtech Product Leaders’ New Priority
    3. How the Insurtech Product Leader’s Role Is Evolving
    1. How Can Product Leaders Drive Profitability?
    2. Insider Intelligence Interviews
    3. Read Next
    1. Sources
    2. Media Gallery

    Interviewed for This Report

    Ellen Carney
    Forrester Research
    Principal Analyst
    Interviewed August 1, 2022
    Mark Evans
    Direct Line Group
    Managing Director, Marketing and Digital
    Interviewed July 25, 2022
    Mike Fitzgerald
    SAS
    Advisory Industry Consultant
    Interviewed August 4, 2022
    Laura Hale
    Ladder
    Co-Founder and Chief Product Officer
    Interviewed July 25, 2022
    Chetan Kandhari
    Nationwide Insurance
    Senior Vice President and Chief Innovation and Digital Officer
    Interviewed July 26, 2022
    Jill Kellett
    Root Inc.
    Senior Director, Product Design
    Interviewed July 25, 2022
    Sergi Baños Lara
    wefox
    CTO
    Interviewed July 13, 2022
    Sears Merritt
    MassMutual
    Head of Enterprise Technology
    Interviewed August 3, 2022
    Renaud Million
    Spixii
    CEO
    Interviewed August 5, 2022
    David Sun
    MetLife
    Senior Vice President, Portfolio Management and Agile Delivery, US Group Benefits
    Interviewed July 19, 2022
    Nigel Walsh
    Google
    Managing Director, Insurance
    Interviewed August 11, 2022
    Todd Zino
    By Miles
    Chief Product and Technology Officer
    Interviewed July 13, 2022

    Read This With Insider Intelligence

    authors

    Eleni Digalaki

    Contributors

    Tyler Brown
    Senior Analyst
    Caitlin Cahalan
    Researcher, Financial Services
    Tiffani Montez
    Principal Analyst, Banking
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