Insurtechs shift strategy from ‘growth at all costs’ to profitability

This time last year, a gaggle of buzzy health insurance startups justified big investments as key to their aggressive growth plans. Now, these same companies are pulling back and instead pursing a novel business strategy: earning profits.

“This was the first quarter where they talked about a little more rational approach,” said Gary Taylor, managing director and senior equity research analyst who covers healthcare facilities and managed…