As the year is gradually running to a close, the year has witnessed a record-breaking $10.5 billion investment in the insurance technology start-ups, surpassing the $10 billion mark for the first time in any one year during the first three quarters.
This is in Report to the new Quarterly Insurtech Briefing from Willis Towers Watson PLC on Wednesday.
For many InsurTechs, 2021 has been a great improvement from 2020 which was plagued by the challenges of the COVID-19 pandemic, among other things, which presented the industry and most mature markets with some real uncertainty.
As the region dominating the list, the US accounted for 46% of deal count; an increase of roughly seven points from the previous quarter, followed by the UK with 8%, China with 5%, India with 4%, and a few countries at 3% while 18% of the deals are part of ‘other jurisdiction’
In terms of sectorial distribution, 49% of deals were classified in the distribution sector, 42% in the business to business area, and only 9% in the insurance sector.
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