Insurtech Insights 2025: What the Industry’s Brightest Minds Told Us in New York

As always, DOXA was tuned in—not just to the sessions but to the nuance behind them. Whether you’re an agency principal considering inorganic growth, a carrier evaluating core system modernization, or a founder weighing the strategic value of partnerships, these six themes from the event are critical to understand.

1. Partnerships Are Evolving—and Getting Smarter

The classic decision matrix—build, buy, or partner—is getting a refresh. As legacy core systems become too brittle and expensive to sustain, insurance leaders are looking toward modular, digital-first partnerships that enable them to move faster without the burden of total transformation.

What’s notable isn’t just the appetite for collaboration—it’s the level of discernment. Companies are no longer jumping at shiny APIs or demos; they’re looking for partners who understand the long game: compliance, operational complexity, and ecosystem alignment.

Session highlights included:

• “Fostering Innovation: Accelerating Growth through Build, Buy, or Partner”

• “From Fragmented to Connected: Unlocking the Insurance Ecosystem Network Effect”

• “A New Era of Insurance Demands Innovation”

DOXA’s M&A perspective: The right partner can accelerate capabilities, open up underserved segments, and remove technical debt—without sacrificing control. This is particularly compelling for MGAs and MGUs seeking scale or specialty expansion.

2. Shiny Objects Fatigue Is Real

A recurring phrase we heard? “Innovation window dressing.” It reflects a collective weariness of surface-level tech designed for pitch decks, not policyholders.

Insurtech relationships are maturing—and so are expectations. Gone are the days of vague promises and hype cycles. Today’s buyers want proof of outcomes, clean integrations, and tech that enables—not disrupts—core operations.

Takeaways from key sessions:

• “Friend or Foe: Is Insurtech an Enabler or Disruptor?”

• “What Does it Take to Be a High-Impact Insurtech?”

• “Unicorn Building: The Insurtech Funding Landscape in 2025 & Beyond”

DOXA’s M&A perspective: When evaluating an insurtech for acquisition or investment, the questions to ask aren’t “How impressive is the demo?” but “Can we embed this into operations in under 90 days?” and “What’s the cost of not using this?”

3. Data Is Defining Distribution

Distribution is no longer a brute-force exercise. In complex and fragmented markets, data is the differentiator—and the fuel that drives producer engagement, channel performance, and campaign ROI.

The most forward-thinking firms are shifting away from anecdotal producer management toward precision distribution strategies based on behavioral insights, lead scoring, gamification, and platform automation.

Session highlights:

• “Maximize Sales Success: The Power of Gamification & Smarter Lead Management”

• “Agents of Change: The Future of Insurance Distribution”

DOXA’s M&A perspective: We’re bullish on platforms that enhance the producer experience and operationalize data-driven placement. In fact, distribution enablement is one of our most active investment theses.

4. Investor Sentiment: Fewer Bets, Bigger Scrutiny

The venture capital boom of 2020-2022 has officially cooled. While capital hasn’t disappeared, investors are more selective, shifting focus toward operational discipline, compliance readiness, and measurable ROI.

The tone in funding conversations has matured. Growth is still important—but now, it must come hand-in-hand with profitability, real-world integrations, and defensible IP.

Insightful sessions included:

• “ESG in Insurance: Balancing Profit and Purpose”

• “Fueling Growth: Strategies for Raising Capital”

• “Partnering or Capital Investment: What Works Best for Insurance CVC?”

DOXA’s M&A perspective: We view this recalibration as healthy. Founders who embrace metrics, embrace regulation, and build for durability—not just headlines—will stand out. We’re here for the long-term builders.

5. AI Isn’t a Threat—It’s a Co-Pilot

AI was everywhere—but the smartest voices weren’t talking about replacement. They were talking about empowerment.

The real promise of AI in insurance isn’t in automating away humans, but in enabling faster, more accurate decisions, enriching the client experience, and making compliance smarter. From claims triage to underwriting and producer onboarding, the best use cases are low-friction and high-impact.

Sessions that stood out:

• “White-glove Service Powered by Platformless AI”

• “Omni-Channel Excellence: Creating a Customer-Centric Claims Journey”

• “Empowering Compliance: Human Expertise Meets AI-Powered Innovation”

DOXA’s M&A perspective: We’re actively watching the rise of applied AI—especially where it enhances licensed professional judgment (e.g., underwriting, compliance, sales enablement). Startups that merge AI with regulatory nuance will lead.

6. The Rise of Niche Markets and Embedded Ecosystems

The future is fragmented—but by design. Cyber, embedded insurance, and vertical-specific coverages are leading the charge into the next phase of product innovation. And incumbents are watching closely.

As pricing volatility and inflation persist, specialty players are finding margin where standard carriers can’t. The gig economy, embedded device coverage, and real-time loss mitigation are all examples of niche-y-er markets that scale.

Compelling sessions included:

• “Insuring the Gig Economy”

• “Moving from Repair and Replace to Protect and Prevent”

• “Commercial Property Insurance Evolution”

DOXA’s M&A perspective: Niche isn’t just a buzzword—it’s a moat. The more tailored the risk model and the deeper the expertise, the harder it is to replicate. That’s why specialty MGAs remain a strategic focus in our portfolio.

Final Thought: Let’s Talk Distribution, Differentiation, and Deal Readiness

We left Insurtech Insights 2025 energized—not just by the technology but by the clarity of vision from across the industry. Leaders are rethinking growth. Operators are doubling down on efficiency. Innovators are learning that a clean integration may be more valuable than a clever UI.

DOXA is helping agencies, carriers, and MGAs modernize their operations and scale smarter—let’s connect. We’re always looking for founders and teams who are building the next generation of insurance.

Because at DOXA, we don’t just follow the future.
We invest in it.