Emerging & Novel Risk Categories

New risk categories are emerging faster than the insurance industry can develop products and pricing for them, from tariff-driven supply chain disruptions to quantum computing threats to gig economy exposures.

Analysis:

The rapid emergence of novel risk categories creates a massive opportunity for startups that can quickly build underwriting models, products, and distribution for new risks. Speed-to-market is the wedge — incumbents take years to develop new products while startups can move in months.