Haun Ventures Partner: AI and stablecoins will give rise to new insurance giants

Chris Ahn, a partner at Haun Ventures, stated that the insurance industry is massive, with global premiums accounting for about 7% of the world's GDP, which is approximately $7.8 trillion annually, exceeding Germany's GDP. Insurance covers nearly all households and businesses, but mature economies have seen almost no new giants emerge for decades, as larger balance sheets are better able to absorb losses.

Ahn noted that three major transformations are opening up opportunities: AI agents can reduce underwriting and claims processing from days to hours, lowering expense ratios and enabling quicker quotes; stablecoins can fill the gap in life insurance and annuities in emerging markets, with a supply of about $300 billion, approximately two-thirds of which is held by individuals in emerging markets.