
August, 12 2021
Industry Challenge
Automation is underway to help tackle the labor shortage

What: The labor shortage is forcing companies to adapt and find innovative ways to fill staffing needs. One fun example of this is Matradee, a robot capable of opening kitchen doors and delivering food to tables.
Why it matters: This introduces a whole new set of risks for business to manage; does workers comp cover server robots?
Read: California Restaurant Recruits Talking Robot Due to Labor Shortage
Insurtech Update
Q1+Q2 2021 global insurtech funding hits record $7.4B

What: The first half of 2021 saw accelerating investments in the insurtech space. With 162 deals totaling almost $5 billion in Q2 alone, deal volume this year has already exceeded the total volume for all of 2020.
Why it matters: Everybody now realizes that digital insurance is the future of the industry, and it’s now a race to invest in the companies that are making it possible.
Insurtech Update
July insurtech funding: mix of software providers and insurers

What: The July insurtech funding breakdown shows a mix of software companies and companies selling directly to customers. It’s a microcosm of the two approaches insurtechs are taking: upgrading the industry vs replacing it.
Why it matters: It is interesting to note that this group is almost evenly divided in betting on current carriers vs startups. It comes down to a simple question: is the head start that existing players have enough to stave off new entrants?

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