InsurTech Funding Rises

83 deals were completed in the third quarter of 2019.
InsurTech Funding Rises
November 4, 2019

Willis Towers Watson reports that funding for the InsurTech industry reached $1.5 billion after 83 deals were completed in the third quarter of 2019, a six percent increase from the previous quarter and the third-highest quarter for global InsurTech investment to date. Over the first three quarters of 2019, investment in the InsurTech industry totaled $4.36 billion across 239 transactions. That marks a five percent increase from the total amount of investment during all of last year. Willis Towers Watson notes that “deal activity is on pace to beat last year’s total.”

“The continuing rise in InsurTech investment acknowledges the enormous role technology has to play in our industry, but we need to avoid becoming a sector jaded and frustrated by it,” said Andrew Johnston, global head of InsurTech at Willis Re. “Today’s InsurTech is as much about hype and entrepreneurial culture as it is about appropriate technology for the insurance and reinsurance industry.”

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