Executive Summary

With full-stack insurtechs owning the entire value chain, they are competing head on with incumbents, and there offerings pose as attractive alternatives due to advanced use of emerging technologies like AI.

Three Key Questions This Report Will Answer:

• Who are successful full-stack players, and why are they particularly threatening to incumbent insurers?
• Why will full-stack insurtechs pose an increasing threat to insurers as they close the data gap?
• What are the lessons learnt and successful strategies emerging from full-stack insurtechs?

WHAT'S IN THIS REPORT? In this report, Business Insider Intelligence examines why full-stack insurtechs pose the biggest threat to incumbent insurers and how this threat will grow over time. Additionally, we profile five full-stack insurtechs — Metromile, Root, Oscar Health, Lemonade, and Next Insurance — and evaluate their offerings in terms of the onboarding process, underwriting and pricing, and claims management, as well as provide insights into what the future will hold for the insurance industry. For the purposes of this report, the phrases full-stack insurtech and insurtech carriers will be used interchangeably.