View from Vegas — InsurTech connect 2017

ITC2017 was, as expected, loud, hectic, exciting, interesting and full of friends, new and old, but of course it was also over shadowed by recent events. Our thoughts are with the families and those affected by the terrible tragedy.

Now we’re back home, our reflections from the event;

There is still an awful lot of noise in InsurTech but when you start to unpeel the layers you uncover the gems with potential to drive meaningful transformation.

Incumbents are increasingly aware of the impact of innovation and are looking at how to best interact with the emerging technologies. However, those with the ambition for “scaleable innovation” remain limited.

The event reinforced our view that innovation in insurance will be driven globally, and Asia, particularly in China and India, is going to play a pivotal role. We’ve also started to develop some interesting ideas around the markets in Latin America.

To provide an idea of the pace and scale of innovation in China, one of the large Chinese insurers is investing more in innovation than the entire European insurance market combined…a scary prospect for Western companies.

One of our portfolio companies was able to agree terms for their next round of financing, showing what can be done when you bring deal makers together.

We also saw real progress on a live deal and have all the building blocks coming together for a significant launch.

Our investment approach is underpinned by our thesis driven investment strategy. Our discussions this week sparked two new areas that are currently untapped but wide open for a scaleable innovation play. Watch this space in 2018.

Finally, Carl won’t forgive me if I don’t mention celebrating his birthday with Steve Aoki. I’m not sure we learnt much but it was a blast!

About Eos Venture Partners

Eos Venture Partners is a global InsurTech Venture Capital fund. Eos was founded in 2016 to bridge the “digital chasm” between InsurTech start-ups and traditional (re)insurance companies, ensuring our investors capture strategic and financial value from the InsurTech revolution.

Eos is insurer-focused; we look for those investments that help insurers create significant value, either through enhanced distribution, margin expansion, new market penetration or operational efficiency. Our approach to investing and our business model is unique: we are deeply aligned to our investors’ strategic needs — helping insurers collaborate, develop and build new propositions and ways to enhance profitability — while delivering attractive financial returns.