The computer virus: COVID-19 is driving a boom in insurtech and it might be only just beginning

15-07-2021

The computer virus: COVID-19 is driving a boom in insurtech and it might be only just beginning

David Bell, Hampleton Partners; Eric Joost, CAC Specialty; Joan Cuscó, Mapfre, Dominique Roudaut, Hannover Re

There remains plenty of scope for further growth if insurers can harness their data, an Intelligent Insurer panel found.

Insurtech was already growing fast before the pandemic, but COVID-19 seems to have turbocharged it.

Activity in the sector finished 2020 at a record high: With a solid final quarter, annual insurtech funding in 2020 reached $7.1 billion across 377 deals, according to Willis Towers Watson—up 12 and 20 percent, respectively, on 2019.

The consultant’s report shows insurtech’s scope widening in terms of its offerings, with the first wave of property and casualty initial public offerings soon to be joined by life and health launches; and its geographic reach with life and health insurtechs raising funding in 13 countries in the last quarter of the year.


WTS, Hampleton Partners, Mapfre, CAC Specialty, Hannover Re, Reinsurance Lounge, COVID-19, David Bell, Joan Cuscó, Eric Joost, Dominique Roudaut, UK

Intelligent Insurer