Dating InsurTech Startups

Both large corporates and startups have observed and learned from what happened and is still happening in FinTech. Collaborative innovation is gaining importance in the insurance sector. This chapter focuses on four different types of partnerships currently emerging, each of which describes a different kind of relationship between startup and incumbent. They are the quicky, the Living‐Apart‐Together (LAT), the steamy affair and the marriage. Both in FinTech and InsurTech, large corporates want to get to know the startups better: how they work, how they think, what their culture is like, and how it can help their own employees to be more like the startups. Typically, the large corporate makes a selection of startups and provides them with facilities, mentoring, and access to their knowledge and network. Startups are innovative, agile, creative, focused, customer‐centric, opportunity‐driven, tech‐savvy, and change‐oriented.