The April 29 report included three reasons for the major growth: Insurtech is a broad definition and many deals are included, technology is what will keep the insurance industry relevant and cost-efficient, and it’s a very promising market for investors.
Nine key takeaways:
- Total amount invested in 2021 was $15.8 billion, more than the amount invested in 2019 and 2020 combined.
- $9.4 billion went into property and casualty insurtechs and $6.4 billion was invested into life and health firms.
- In 2021, 564 deals took place. Most of the funds raised were invested into businesses during their series C to E+ rounds.
- The largest single deal was Integrity Marketing Group, which raised $1.2 billion in December.
- The U.S. saw more investment and total deals than the next 60 countries combined.
- First quarter of 2022:
- Overall funding was down in the first quarter, though total funding was $2.2 billion.
- Total deal count saw almost no quarter-over-quarter change, with 143 deals recorded globally. Of those, 37 involved life and health firms.
- A total of 31 countries participated in insurtech investment in the first quarter of 2022, but the U.S. had a 47 percent share of all deals.
