"He doth protest too much" might be the response of many thinking this the misguided view of an established vendor viewing the tsunami of insurtech startups intent on disrupting the market.
But history shows Marcus Ryu will be correct in his prediction. Only 10% or so will be successful and the rest will drown in the tsunami they created.
He cites Slice as a potential success concentrating as it does on "Airbnb" type homeshare, rental and on-demand insurance. It won't disrupt and threaten the whole market and is, anyway, partnering with insurers rather than displacing them.
In a similar way 360Globalnet is partnering with major insurers to digitise the whole claims value chain including suppliers. Without having to write-off core legacy systems.
Two approaches which look like being in the successful 5% to 10%
Addressing the press at Guidewire Connections 2017, Ryu said that recent investments in insurtech amount to a bubble and it had all happened “too fast”. “We’ve seen this movie a hundred times before. It happens in every time in technology. You have a huge surge of early stage investment. Most of it gets wasted. It’s like a law of nature. It just always happens and that’s what’s happening here,” Ryu explained. $3.5bn has been invested in insurtech over the past few years. It is not possible to spend that money productively, Ryu warned.