ITC Las Vegas, day 3

Caribou Honig, founder of ITC Connect and a partner at venture capital firm SemperVirens, speaking at Tokio Marine Day on Nov. 2, 2023.

Caribou Honig, the founder of ITC Connect and a partner at venture capital firm SemperVirens, spoke at Tokio Marine Day, an annual event including technology pitches, at ITC Connect, Nov. 2.

Insurtech, Honig said, isn’t moving toward direct-to-consumer. “It remains B2B2C. Historically, the middle B is the broker,” he said. “But now the middle B is becoming a business or a bank, enabled by APIs.”

The audience at Tokio Marine Day, according to Robert Pick, deputy chief IT officer, Tokio Marine Holdings, included 85 insurtechs ranging from start ups to mature players. These in turn included 20 incumbent established technology companies, 15 systems integrator partners, 7 investors/incubators, and 60 people from Tokio Marine Group, including 5 chief information officers who oversee $18 billion in premiums in the U.S. alone.