ITC Vegas 2024: A Maturing InsurTech Ecosystem and Broker Insights’ Expansion in the US

Broker Insights US Sales Representative, Brett Fulmer, reflects on ITC Vegas and the rapid evolution in the InsurTech landscape:

As I attended my fourth ITC (InsureTech Connect) in Vegas this year, the energy and collaboration were palpable. This year marked the 8th edition of ITC, and it’s clear that the event—and the entire sector—has grown significantly. For startups, carriers, and brokers alike, the conversation is shifting from disruption to sustainable growth. Some InsurTechs are now profitable and are even questioning if they still fit the “InsurTech” label or if they’ve become something broader—tech-enabled insurance businesses. The industry is maturing, and so is the conference.

Celebrating Community Milestones

ITC 2024 saw some key milestones for the ecosystem. Insurance Nerds celebrated its 10-year anniversary, a testament to the organic communities that continue to fuel this space. Similarly, the InsurTech Association launched ‘Momentum Book’, a female-founder authored collection featuring 10 stories of women leaders in the sector. These milestones showcase the industry’s focus not just on innovation but also on community-building and leadership.

The Power of Data and Collaboration

One of the key themes that resonated throughout the conference was the growing power of data in empowering quotes and underwriting. This shift reflects a broader trend across the insurance industry—carriers, agents, and AMSs (Agency Management Systems) now expect APIs and more uniform communication between systems. While many companies are still working on perfecting this communication, the expectation for seamless data sharing is clear.

The inaugural Broker/Agent Day on Tuesday was a significant highlight, underscoring the tightening bond between InsurTech and the traditional insurance space. It’s clear that brokers and agents remain crucial players, with InsurTech’s mission evolving to support and empower these roles. For Broker Insights, this is particularly relevant as we continue to expand our platform’s capabilities in the US, strengthening the relationship between brokers and carriers through data and technology.

Broker Insights and the US Market

As the insurance industry grapples with challenges like inflation and catastrophic losses in the US, Broker Insights is in a prime position to help brokers thrive. Excess and surplus lines, non-admitted insurance products, and wholesalers remain key components in this climate, and our Vision platform is designed to equip brokers with the data and insights they need to navigate these complex markets. We’re proud to see the InsurTech space maturing alongside our efforts, as both startups and legacy players come together to solve the industry’s biggest challenges.

The mood at ITC was overwhelmingly positive, with an optimism that’s rare in today’s market. There were even glimmers of hope in the notoriously tight reinsurance market, which is promising news for all involved. With new challenges on the horizon, everyone seemed focused on collaboration and problem-solving, two themes that are central to Broker Insights’ mission.

Looking Forward

After attending four ITCs, I can confidently say that the InsurTech space isn’t going anywhere—it’s just growing up. The addition of brokers, carrier access networks, and other meaningful players to the conversation is a sign of this maturity, and it’s an exciting time to be part of this ecosystem. As we continue our expansion in the US, events like ITC provide invaluable insights and connections that fuel our mission to drive growth for brokers across the country.

I’m already excited for ITC 2025!

Brett Fulmer, Broker Insights Sales Representative, US Team

To find out more about Broker Insights and how the Vision platform can benefit you, get in touch with our team.