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Insurance, by tradition, has been powered by middlemen. Although taking them entirely out of the image might not be plausible, mitigating their involvement will grow profit margins, naturally.
Mobile apps allow real-time B2C interaction, without intermediaries. The positivity also flows all the way down to the customer experience, which may never be exaggerated. And insurtech would be too smart for its own good, to not explore this selection.
There are three main components that play an important role in formulating the proverbial pyramid of an underwriter. The pyramid. which had played a serious role in helping Wefox raise $110M in 2019.
This includes first the insurer that includes and markets financial products. Second, are the third-party entities that provide the services covered by the insurer. And also the third is that the end-user, the customer who has opted in to be insured.
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