InsurTech Investment hits Record High
Insurance technology companies attracted a record $7.1bn (£5.15bn) of investment across 377 deals last year, analysis by Willis Towers Watson (WTW) has revealed.
This comes after InsurTechs raised $2.1bn in the final three months of 2020 alone, with 67% of the funds attracted by property and casualty-focused firms.
Life and health-focused companies saw a modest decrease in deal share, declining by 1.6% in the final quarter, with funding falling by 8.4%.
Despite the COVID-19 pandemic, and a relatively slow start to investment last year, total InsurTech funding increased by 12%, with deal volume rising by 20%, in comparison with 2019.