Willis Towers Watson: insurtech investment soared to $1.58bn in Q4 2018
According to a report by Willis Towers Watson, insurtech investment increased vastly over the past year on a global scale.
In Q4 2018, the report states that 63 insurtech deals were signed making up a total investment of $1.58bn. This marks an increase in value of 155% from Q4 2017, as well as a 24% increase in the number of deals.
Allianz increases investment fund to €1bn to focus on insurtech
Technavio: Global insurtech market to grow by over $15bn by 2023
This information comes from the analyst’s Quarterly InsurTech Briefing, which adds that presently the global insurance industry maintains 31 strategic partnerships with technology companies. This is the highest figure ever.
The recent brief has placed an emphasis on new industry tools which are being developed to manage cyber risk.
Dr. Andrew Johnson, Global Head of Insurtech at Willis Re, said: “Insurtechs offer our industry a huge opportunity through strategic commercial partnering to allow incumbent insurance firms the ability to become part of a broader, more resilient jigsaw puzzle.”
- Techstars' Eromosele on what makes a perfect elevator pitchVenture Capital
- Super.com raises $85mn in funding to expand savings appFinancial Services (FinServ)
- Global fintech investment fell by 30% last year, KPMG saysFinancial Services (FinServ)
- Fintech MNT-Halan raises US$400mn in Middle East mega roundVenture Capital