The insurance market is starting to soften, which could see a shift in the type of innovation projects firms focus on. As the first half of the year ends, what were the trends that shaped the sector?
FinTech Global recently sat down with experts from the InsurTech sector to get their thoughts on the first half of the year. They were all asked to think back over the past six months to anything that surprised them and what developments in the sector people are not talking about enough.
Ido Deutsch, chief revenue officer at Producerflow, offered his insights on the InsurTech sector over the first half of 2026. He noted that while the industry has been focused on AI and the benefits the technology can bring, they have not stepped back to view the whole picture. While AI can do impressive things, it is only as good as its data foundations.
He said, “People are just putting AI models on top of existing data and if the data is not right, the AI just exponentially makes wrong assumptions and suggests wrong outcomes.
“What I didn’t hear about and don’t hear the industry talk about enough is how we make sure our data is right and how our data is correct, both on distribution where we are at but also on underwriting and claims.”
Many carriers and MGAs have built their data infrastructure over many years, but it is dispersed across many different systems, spreadsheets and organisations, he said. While these organisations have wanted to take advantage of digital innovation, such as cloud systems, to organise their data, but they haven’t done so and are now just dropping AI on top, which Deutsch believes is just “not effective.”
Dan Simmons, managing director and founder at Quensus, on the other hand, believes that P&C insurers are not aware of the additional benefits preventing leaks can bring in addition to reduced claims.
Simmons noted that while IoT leak detection has experienced a period of notable growth this year, many firms are yet to realise the ESG benefits preventing leaks can bring.
He said, “One thing that I am trying to get insurers and water companies, amongst others, to understand is that by preventing leaks, the ones that are damaging, also prevent water wastage, the ones that are just going straight down the toilet and wasting water also helps with ESG and net-zero.”
For more insights into the first six months in InsurTech, watch the video to get insights from:
- Ido Deutsch, chief revenue officer at Producerflow
- Dan Simmons, managing director and founder at Quensus
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