ChainCatcher reports that Chris Ahn, a partner at Haun Ventures, wrote that the insurance industry is enormous: global premiums account for roughly 7% of world GDP—about $7.8 trillion annually, exceeding Germany's GDP. Insurance covers nearly every household and business; however, in mature economies, new industry giants have scarcely emerged over the past several decades, as larger balance sheets are better able to absorb losses.
Ahn stated that three major shifts are unlocking new opportunities: AI-powered agents can reduce underwriting and claims processing from several days to just a few hours, lowering expense ratios and enabling faster quoting; stablecoins can help bridge the gap in life insurance and annuities in emerging markets, with an aggregate supply of roughly $300 billion—about two-thirds held by individuals in these markets.