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When API's are done with ease, the whole Ins world changes.
How do Companies like Haven, Fabric, and Lemonade Make Profits?
- Thread starter AboutThatLife
- Start date
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1. As previously stated many of these "insuratech" solutions are really just agencies repackaged and not all that different than most of us. Many of them get paid via commission while bashing insurance agents that get paid by commissions.
2. For some of these true start ups, making a profit is not important to them. Seriously. Consider Amazon or Telsa how much profit are they truly making? Very little to None. They hope that the market will continue to be more concerned with "market share" and less concerned with profit. For the time being and in some industries this is the model. For the insuratech startups... this may work for awhile but eventually they will need to be profitable - just like you and I!
2. For some of these true start ups, making a profit is not important to them. Seriously. Consider Amazon or Telsa how much profit are they truly making? Very little to None. They hope that the market will continue to be more concerned with "market share" and less concerned with profit. For the time being and in some industries this is the model. For the insuratech startups... this may work for awhile but eventually they will need to be profitable - just like you and I!
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