Forrester Research says funding for insurtech companies hit a staggering $19.81 billion in 2021. That’s a 176% rise and is a dramatic change over the year before. Funding in the fourth quarter was a record $4.3 billion.
Quarter one saw the most capital invested.
The U.S. did most of the funding in the fourth quarter at $3.22 billion. France invested $336 million and India put up $268 million. Brazil, Canada and Germany followed.
Forrester says insurers “recognize the value of innovation,” and the company found P&C insurers like it best. They are “generally further along the digital experience curve than their life counterparts.”
Here are the 2021 statistics:
2021 — 1st quarter investment $6.47 billion
2021 — 2nd quarter investment $3.77 billion
2021 — 3rd quarter investment $5.25 billion
2021 — 4th quarter investment $4.32 billion
Source link: Business Insurance — https://bit.ly/3LoJEfS
Insurtech — Investment Rising Dramatically
About PIA Western Alliance
The Professional Insurance Agents Western Alliance is a membership organization promoting and enhancing the success of independent agencies seeking to grow, learn and be heard within the industry.
PIA WESTERN ALLIANCE VALUES OUR STERLING PARTNERS