Well it certainly seems like 2016 will see the rise in insurance technology (or Instech or Insurtech depending on your preference). All signs point in this direction: huge increase in startup activity, rise of accelerators and incubators, flow of capital.

So what does 2016 hold for insurance technology? Where should be place our bets? Interesting article from DailyFintech with 10 predictions for this year.

Whilst they align with what I'm seeing they do raise a few points of note:

1. Prediction #4: All in one place - I agree, there will be a rise in these but will they survive if they remain in their current form? The challenge is whether the proposition makes sense for consumers. As individuals we don't think about insurance (well not if we can help it) we think about availability e.g. I can use my phone/car, I'm well enough to work, is my house a safe place to live with all I need in it? In their current form these feel like they are looking from the insurers perspective whilst not considering the consumers view. I'm sure they'll test really well in research - who wouldn't want everything in one place. But will they actually get used in the context of everyday life?

2. Prediction #9 Blockchain - as the article implies it's still a solution looking for a problem. I'm still not convinced that both sides of the conversation (insurance and tech) are close enough together to really understand the true opportunities over and above the basic understanding that each side has of the other. Even when people do get their heads round it it feels the use cases are likely to be niche. 

3. Does the future really come this quickly? If we look back 3-5 years at the Fintech sector we have believed that by now we'd all be banking with Google and Amazon. Whilst the world has moved on significantly, progress is slower than predicted and true disruption has yet to materialise.  Given the regulatory constraints will it ever? 

Recommend a read of the full article. I look forward to seeing what happens at the end of the year and how far the world has moved on. What's for certain is that the insurance technology space will have moved on leaps and bounds.