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I spent fairly a little bit of time these days 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 verify a few of my instinct on matters like money diversification and M&As. — Anna
Insurtech faceoff: B2B vs. B2C
Once I reached out to buyers not too long ago for our newest insurtech survey, I used to be curious to know the way the financial 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 determine to chop down spending on bills equivalent to insurance coverage. Maybe not one of the best name, but when it’s both meals or higher insurance coverage, the selection turns into simpler.
Whereas companies have additionally been trying to lower prices, they’re much less more likely to forgo insurance coverage, particularly for the dangers they’re extra uncovered to. For insurtech startups, this is able to create an surroundings during which it’s simpler to promote B2B merchandise than B2C ones. However is it really the case?
As traditional, it seems that the reply is extra difficult than a easy sure or no — but in addition extra attention-grabbing.