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Annual insurtech investment tops $ 10 billion: Willis



Third-quarter insurtech investment reached $ 3.13 billion, up from $ 4.82 billion in the second quarter of 2021 but up from $ 2.54 billion in the third quarter of 2020, according to the new Quarterly Insurtech Briefing from Willis Towers Watson PLC on Wednesday. [1902] Investments in start-up insurance technology companies exceeded $ 10 billion for the first time in a year; 2021 has now seen a record $ 10.5 billion raised in the first three quarters of the year, with three months left to go, the report said. the 104 deals in the third quarter of 2020.

The number of mega-rounds of more than $ 100 million in funding reached 11 and accounted for more than half of the total funding, Willis said.

The United States dominated the number of deals with 46% followed by the UK with 8%, China with 5%, India with 4% and a number of countries with 3%. Eighteen percent of the deals were listed in "other" jurisdictions.

Per sector, 49% of the businesses in the distribution sector, 42% in the business to business area and only 9% in the insurance sector were classified. [1

9659002] The growth of global insurance investment over the past decade has been significant, but the sharp pattern is a concentration of "the lot for the few", said Andrew Johnston, global head of insurance technology at Willis Re, in a release with the report. "The continued escalation of InsurTech financing does not mean that risk and growth capital is available to most or even many InsurTechs."

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