Trying to get lucky: have insurtechs missed their chance for funding?


Trying to get lucky: have insurtechs missed their chance for funding?

There is still funding and opportunities for partnerships, but innovative businesses will have to work harder—and smarter—if they want to succeed, says an Intelligent Insurer panel.

Has the bubble burst? In the first quarter of 2022, insurtech funding dropped by more than half and stayed flat in Q2, while deal numbers continued to decline. They’re now at their lowest count since the end of 2020. Other analysts predict insurtech job cuts and declining consumer choice.

But deals are still happening, with $2.4 billion in the second quarter. To examine which insurtech businesses will continue to see success, Intelligent Insurer invited a panel of experts to its online hub for discussion and debate: Sebastián González, head of sales LatAm at Bdeo, which specialises in “automation and efficiency around inspection processes” in underwriting or claims, mainly for property and motor insurance; Todd Rissel, chief executive officer of e2Value, a web-based insurance-to-value solution that helps property and casualty and mortgage-related companies value their portfolios; Ross Wirth, head of client management technology at CyberCube, a cyber risk analytics platform for the insurance industry; and Justin Davies, head of region EMEA for Xceedance, which provides strategic operations support, technology, and data services to drive efficiencies for insurance organisations.

“Initial funding for Bdeo was typical of many, relying on the ‘three Fs’.” Sebastián González, Bdeo

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Intelligent Insurer