InsurTech 2023

Deloitte Insights

CEE Insurtechs & Insurance Technology Study 2023

Over 86 percent of insurers in CE believe that cooperation with insurtechs may support their technological development. 

Although insurers tend to be prudent when initiating innovation projects shared with insurtechs, vast majority view the cooperation to date as successful.

“A Positive Partnership. Central European Insurers and Insurtechs: challenges, opportunities and trends” is a Deloitte report that summarises the results of a survey carried out among insurers and insurtechs operating in Central Europe. Its purpose was to verify the quality of cooperation between the two groups, define key challenges preventing its further development and indicate areas considered by both sides as most promising for future.


Topics discussed in the report:

  • The existing cooperation between insurers and insurtechs: According to the survey, as many as 70 percent of insurers in the CE region have recently commenced cooperation with insurtechs. Moreover, 74 percent of insurers are satisfied with this cooperation.
  • Cooperation models and innovation investments: The survey analyzed the attractiveness of various models of collaboration between insurance and insurtech companies. Currently, the purchase of technology licenses is the most popular cooperation form. The analysis included insurers’ investments in innovative projects, whose value has grown in recent years.
  • Key challenges concerning future: According to insurtechs (61 percent), the scarcity of funds assigned to innovation poses the biggest challenge in cooperation with insurers. As perceived by insurers, key challenges include restrictive regulations (57 percent) and the need to adjust the offered solutions to the existing IT infrastructure (57 percent).
  • Innovation areas that CE insurers are most involved in Risk assessment, tariffs, personalization of insurance products, and automation of internal processes; these are topics indicated by insurers as key areas of cooperation with insurtechs in the coming years.
  • Regional specifics of cooperation between insurers and insurtechs: Although all markets in the region witness the entry of many relatively simple innovations (such as automation), in the case of more complex solutions, differences in priorities can be observed.

InsurTech 2023 Report

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