Insurtech investment volume shrinks in 2017
The global insurtech financing volume has fallen in 2017 to $2.24 billion compared to $2.69 billion in 2016 and $2.75 billion in 2015, according to FT Partners fintech industry research.
At the same time, the number of financing transactions in the insurtech sector globally reached a record high with 203 transactions. In 2016, the number of transactions registered was 160, an increase from 125 in 2015.
Of the four largest financings in 2017, two were in the online health insurance space (Bright Health and Clover Health), one was in the telematics space (Natuo) and one was in online P&C insurance (Lemonade).
Europe had significant increases in financing activity, the largest out of any region this year, according to the 2017 InsurTech Almanac. Financing volume and deal count both more than doubled. The insurtech financing volume jumped 279 percent year on year to $408 million. The region also recorded its largest insurtech financing ever: BIMA’s $107 million raise led by Allianz X, which was the fifth largest financing globally in 2017.
The US remained the most active region for insurtech financing with $1.42 billion in 2017, a year-on-year decrease of 37 percent, but representing 63 percent of the total globally. The largest financing deal was Bright Health with $160 million.
Asia attracted $357 million in insurtech financing in 2017 representing a year-on-year increase of 12 percent and 16 percent of the total globally.
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