However, global head of insurtech says there are signs of ’a mature and healthy market’Global Insurtech funding plummeted from £6.3bn in 2022 to £3.58bn in 2023, new figures from Gallagher Re have revealed. This 43.7% drop, which was highlighted in the firm’s Global Insurtech Report, was the lowest level seen since 2018. The slump was driven by a year-on-year decrease in funding across the property and casualty (P&C) sector, as well as in life and health insurtech (L&H) businesses. In line with a drop in funding, deal count declined from 521 in 2022 to 422 in 2023. “I encourage people to look at the relative drop in deal count, relative to the total amount invested, and you’ll see that the drop in deal count is nowhere near as significant,” he said.

Source: The Times February 06, 2024 14:03 UTC