EPISODE · Jan 30, 2025 · 1H 5M
State of the Nation in Insurance Venturing
from Scouting for Growth · host Sabine VdL
On this episode of the Scouting For Growth podcast, Sabine VdL talks to a panel of global experts to explore the bold new frontiers shaping insurance technology in 2025 and beyond, including microinsurance in Africa, digital disruption in Latin America, the evolving tech scene in the US, Asia, Europe and the UK. KEY TAKEAWAYS AI cannot just be something we add on top of existing infrastructure, there needs to be some re-work to integrate it into existing infrastructure. Foundation for AI scalability and security (not as a bolt-on) will be a big trend. The second thing is generative AI that’s across ecosystem. There is a trend emerging and growing in InsurTech in Europe at least around emerging risks. 20% of all the deals done in 2024 were around that specific topic. Most of the startups in this area are in the pricing/underwriting part of the value chain. There is a need for these with emerging risks that didn’t exist (or weren’t as prevalent) in the past, such as climate change or electric vehicles. In Asia, especially South-East Asia, the markets are way more green field than they are in the US. Here, embedded insurance and ecosystem integration are a really big deal. As people get onto external ecosystems outside of their own they want to embed insurance in them across sectors. We don’t think insurance just in the insurance space is enough. There’s a lot of brain drain in Africa where skilled professionals are leaving the continent. But the paradox of that is that there’s a lot of influx onto the continent. The questions is: Where exactly do the opportunities lie? There’s a lot of grown happening in the emerging communities where companies are developing the mindsets and capacities to transfer risk in all kinds of insurance, not just life. BEST MOMENTS ’95-97% of the economy in Asia is driven by SMEs, and 75% of employment is in the SME sector, and it’s wildly underserved from an insurance perspective. It’s a massive opportunity.’ ‘Accessibility possibilities that the technology and maturity curve provides in emerging markets, especially, is quite exciting because it’s making insurance sustainable, affordable, and reaching more people.’ ‘The population where I live is very young, they were the first penetration for insurance here and, unlike the rest of the world, they’re deeply unconcerned about data privacy, they’re willing to trade their data access for convenience, better products and more personalisation.’ ‘Don’t only stick to the regulations timeframe, keep an eye on what entrepreneurs are building because the market can move faster than the regulations.’ ABOUT THE GUESTS Florian Graillot (covering InsurTech Europe) Hilario Itriago (covering InsurTech LATAM) Lisa Wardlaw (covering InsurTech USA) Michael Waitze (covering InsurTech Asia) Tunde Salako - Africa InsurTech (covering InsurTech Africa) ABOUT THE HOST Sabine VanderLinden is a corporate strategist turned entrepreneur and the CEO of Alchemy Crew Ventures. She leads venture-client labs that help Fortune 500 companies adopt and scale cutting-edge technologies from global tech ventures. A builder of accelerators, investor, and co-editor of the bestseller The INSURTECH Book, Sabine is known for asking the uncomfortable questions—about AI governance, risk, and trust. On Scouting for Growth, she decodes how real growth happens—where capital, collaboration, and courage meet. If this episode sparked your thinking, follow Sabine VanderLinden on LinkedIn, Twitter, and Instagram for more insights. And if you’re interested in sponsoring the podcast, reach out to the team at [email protected]
What this episode covers
On this special panel episode of Scouting For Growth, Sabine VdL convenes a global group of InsurTech experts to decode the forces reshaping insurance in 2025 and beyond—from microinsurance innovation in Africa, to embedded insurance ecosystems in Asia, emerging-risk underwriting in Europe, and accelerating digital disruption across the US, LATAM, and the UK. This is not a hype tour. It’s a reality check for leaders navigating a market where technology, regulation, and customer behaviour are evolving faster than traditional insurance models can keep up. AI must be built in—not bolted on One theme cuts across every region: AI cannot be layered on top of legacy infrastructure and expected to deliver impact. To scale securely and responsibly, insurers must rethink their foundations so AI becomes part of the operating core. The next wave isn’t just better tools—it’s AI embedded across ecosystems, enabling real-time decisions, pricing, and protection. Europe: emerging risks are driving innovation In Europe, the panel highlights a clear shift: around 20% of InsurTech deals in 2024 focused on emerging risks. Climate volatility, electric vehicles, and new systemic exposures are forcing innovation upstream—especially in pricing and underwriting, where traditional models struggle to keep pace with rapidly changing risk profiles. Asia: embedded insurance meets underserved SMEs South-East Asia remains one of the most compelling growth markets. With far less legacy infrastructure than the US, insurers are building embedded insurance directly into digital ecosystems—from commerce to mobility to fintech. The opportunity is massive: 95–97% of Asia’s economy is driven by SMEs, accounting for roughly 75% of employment, yet this segment remains significantly underinsured. Insurance, the panel argues, must show up where customers already are—not expect them to come looking for it. Africa: inclusion through accessibility Africa’s InsurTech landscape carries a paradox. While skilled talent often leaves the continent, capital, innovation, and entrepreneurial energy are flowing in. The fastest growth is emerging in communities building new ways to transfer risk across multiple lines, not just life insurance. Technology is lowering barriers to access, making insurance more affordable, scalable, and relevant for populations historically excluded from protection. A generational shift in data expectations One striking insight: privacy expectations are not universal. In many young, mobile-first markets, consumers are more willing to trade data for convenience, speed, and personalisation—forcing insurers to rethink product design, trust models, and value exchange. A leadership warning Regulation matters—but it shouldn’t be your only compass. Entrepreneurs often move faster than regulators, and the most important signals about where the market is heading are already visible in startup experimentation. Why this episode matters This panel offers a global strategy map for leaders: AI must be foundational, not cosmetic Emerging risks are reshaping underwriting innovation Embedded insurance is accelerating ecosystem-led growth SMEs are the world’s most underserved opportunity Africa’s future lies in scalable, inclusive risk transfer Customer expectations differ radically by region Insurance transformation isn’t happening in one market or one model. It’s happening everywhere—differently, simultaneously, and at speed.
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State of the Nation in Insurance Venturing
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